Word of the week: Segmentation
Segmentation is the process of grouping prospective buyers based on common needs and identifying criteria. These groups, or segments, ideally behave similarly and will respond to a marketing action in a likewise manner. Marketing can then identify the needs and concerns of each group to develop products or more efficient campaigns that are targeted, compelling and relevant. Common criteria segmentation is based on: geographic area, demographics, title, interests/lifestyle, product and behavioral traits.