Target market segmentation template

If so, how often? Again, add this information to this segment of the matrix using sticky notes and lists. Finally, in this section of the template, think about variables such as age range, gender, marital status, occupation, income, education level, family size, and ethnicity. You may also want to consider factors such as whether those in your target market tend to be homeowners or renters. You should also sit down with your team every few months to update your market segmentation matrix in case anything has changed such as new trends emerging in the market.

Ayoa is an all-in-one online whiteboard where you can brainstorm ideas, work together and get things done. View website. Created a template that you think others might find useful? Submit your template by following the steps below:. Open the board you would like to submit as a template. Copy the public sharing URL that is generated. Please note that by making your template public, anyone with access to this link will be able to view your template.

Email your template URL along with your name, the template name and a short description of your template to marketing opengenius. Ayoa has one goal: to make life easier for you. You can also see market analysis templates.

With that in mind, here are the steps that will allow you to conduct an effective market segmentation analysis: 1. Evaluate the Market that You Want to Pursue Decide which methods you want to define your segments by and which definitions best fit your business model. There are many different ways in which you can categorize the different market segments. Here are a few examples of what you can do: 1.

This is one of the easiest ways for you to determine who your target audience is supposed to be. You may also see stakeholder analysis templates. Categorize them by geography This is where you will be taking a look at where your target audience is going to be located. Also, this will help you understand where your products and services are going to be used by your target audience.

You may also see business needs analysis templates. Categorize them by lifestyles Each type of customers has their own lifestyle. You want to be able to understand the lifestyle of your target audience as doing so will allow you to come up with the products and services that will suit them. This includes everything from what kind of hubbies they decide to take part in to what kind of vacations they enjoy.

You can also read hazard analysis templates. This is a type of market segmentation that places customers in categories based on behavioral patterns. Here, organizations study consumer behaviors as they interact with a specific product or service and then, place consumers who exhibit similar characteristics in the same group.

Behavioral segmentation helps you to understand how your product appeals to your target market and fits into the lifestyle of your consumers. With this, you can focus on creating targeted messages that complement the behavioral patterns of different customer categories.

For instance, consumers exhibit different behavioral characteristics as they move from one stage to the other in the buyer journey. You can collect data for behavioral segmentation by conducting an online survey with Formplus. Also, website cookies, third-party data assets, and the purchase data stored in customer relationship management software can provide insights into consumer behavior.

Customer segmentation is the act of dividing your customer base into defined groups based on specific criteria. It is an important step that helps you to identify different consumer needs and preferences in your target market, and also satisfy them accordingly. This type of market segmentation is useful for B2B and B2C marketing. In B2B marketing, you can place customers in defined segments based on industry, location, and in B2C marketing, you can place customers in segments based on age, gender, and lifestyle.

Customer segmentation results in multiple benefits for businesses such as helping you decide on the best communication channel for your business. It also helps you to tailor your product to create value for different customer segments, improve customer experience, and boost customer satisfaction.

You can gather data for customer segmentation using different methods and tools including face-to-face interviews, surveys, observation method s, and focus groups. These tools and methods allow you to gather specific information about your target audience and create customer segments that reflect different market peculiarities. In psychographic segmentation, customers are placed in categories based on their psychological traits. Here, you pay attention to how a customer's psychological disposition affects his or her purchasing habits, lifestyle, and product preferences.

The Market segmentation Template in PowerPoint format includes four slides. Firstly we have the Bases for segmenting consumer markets.

Secondly we present Consumer segmentation by Demographic segmentation, Behavioral segmentation and Geographic segmentation. The Market segmentation PowerPoint templates include four slides. Market segmentation is the activity of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers known as segments based on some type of shared characteristics. In dividing or segmenting markets, researchers typically look for common characteristics such as shared needs, common interests, similar lifestyles or even similar demographic profiles.

The overall aim of segmentation is to identify high yield segments. A major step in the segmentation process is the selection of a suitable base. In addition, the segmentation approach must yield segments that are meaningful for the specific marketing problem or situation. In reality, marketers can segment the market using any base or variable provided that it is identifiable, substantial, responsive, actionable and stable.

This segmentation is quantifiable population characteristics. It can be explained with Purchasing, consumption or usage behavior. Needs-based, benefit-sought, usage occasion, purchase frequency, customer loyalty, buyer readiness. At the same time you can also refer to the fully explanation of Market segmentation in Wikipedia.