The criteria necessary for a market segment reveals what you need to know about your target market in order to develop a successful marketing campaign.
Every successful marketing campaign targets a specific group of people. These are the people most likely to become your customers. They comprise your target market.
After identifying your target market by segments. Then you can design your marketing tactics specifically to meet their needs and preferences.
Wikipedia lists five criteria necessary for a market segment:
First Criteria Necessary For A Market Segment: Commonality Of People In The Market Segment
Second Criteria Necessary For A Market Segment: Differences Between People In The Market Segment And Other People
Third Criteria Necessary For A Market Segment: People In The Market Segment Can Be Identified And Counted
Fourth Criteria Necessary For A Market Segment: An Accessible And Actionable Market Segment
Fifth Criteria Necessary For A Market Segments: A Large Enough Market Segment To Be Profitable
You need to understand all the criteria necessary for a market segment in order to market effectively. This article explains the first two of these criteria. The remaining three are explained on my blog linked in the resource box.
First Criteria Necessary For A Market Segment: Commonality Of People In The Market Segment
A segment having commonality means that all the people in it have characteristics in common.
To illustrate, people differ by education levels. People who have completed a college degree share many similar characteristics. People who only have a high school diploma share characteristics. But the characteristics for one education level are very different from those of the other. Marketing designed to sell to both groups will be far less effective than marketing designed to target just one.
When the people in a market segment share many characteristics, it's easier to design a marketing campaign for them.
Having lots of characteristics in common causes people in a market segment to often buy similar types of services and products. The more characteristics that they have in common, the more successfully you can design marketing to effectively appeal to those characteristics.
Second Criteria Necessary For A Market Segment: Differences Between People In The Market Segment And Other People
Being able to distinguish how the people in a market segment differ from everybody else is an important market segment criteria.
If the people in the market segment are not substantially different from everybody else, you have:
No differences in the target market and the overall market,
No reason to develop a marketing campaign for the target market, and
No foundation to develop a marketing campaign.
If there are no important differences between people in different segments, there is no foundation for target marketing. So having segments differ from one another is another criteria necessary for a market segment.
Thus, each market segment requires different marketing strategies and tactics than others in the mass market.
Criteria Necessary For A Market Segment: Synthesis And Recommendation
By identifying a market segment in which people share many characteristics that differ from the mass market, you will improve your marketing
Still you need to assure that you can determine how many people are in the segment and if there are enough of them for a good return on your marketing investment. You also should know that they will take actions like joining your list or buying your product.
Every successful marketing campaign targets a specific group of people. These are the people most likely to become your customers. They comprise your target market.
After identifying your target market by segments. Then you can design your marketing tactics specifically to meet their needs and preferences.
Wikipedia lists five criteria necessary for a market segment:
First Criteria Necessary For A Market Segment: Commonality Of People In The Market Segment
Second Criteria Necessary For A Market Segment: Differences Between People In The Market Segment And Other People
Third Criteria Necessary For A Market Segment: People In The Market Segment Can Be Identified And Counted
Fourth Criteria Necessary For A Market Segment: An Accessible And Actionable Market Segment
Fifth Criteria Necessary For A Market Segments: A Large Enough Market Segment To Be Profitable
You need to understand all the criteria necessary for a market segment in order to market effectively. This article explains the first two of these criteria. The remaining three are explained on my blog linked in the resource box.
First Criteria Necessary For A Market Segment: Commonality Of People In The Market Segment
A segment having commonality means that all the people in it have characteristics in common.
To illustrate, people differ by education levels. People who have completed a college degree share many similar characteristics. People who only have a high school diploma share characteristics. But the characteristics for one education level are very different from those of the other. Marketing designed to sell to both groups will be far less effective than marketing designed to target just one.
When the people in a market segment share many characteristics, it's easier to design a marketing campaign for them.
Having lots of characteristics in common causes people in a market segment to often buy similar types of services and products. The more characteristics that they have in common, the more successfully you can design marketing to effectively appeal to those characteristics.
Second Criteria Necessary For A Market Segment: Differences Between People In The Market Segment And Other People
Being able to distinguish how the people in a market segment differ from everybody else is an important market segment criteria.
If the people in the market segment are not substantially different from everybody else, you have:
No differences in the target market and the overall market,
No reason to develop a marketing campaign for the target market, and
No foundation to develop a marketing campaign.
If there are no important differences between people in different segments, there is no foundation for target marketing. So having segments differ from one another is another criteria necessary for a market segment.
Thus, each market segment requires different marketing strategies and tactics than others in the mass market.
Criteria Necessary For A Market Segment: Synthesis And Recommendation
By identifying a market segment in which people share many characteristics that differ from the mass market, you will improve your marketing
Still you need to assure that you can determine how many people are in the segment and if there are enough of them for a good return on your marketing investment. You also should know that they will take actions like joining your list or buying your product.
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Learn more about Criteria for a Market Segment.Also get a report on Market Segmentation there or free ebook Marketing Your Small Business
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