Breakdown and Simplification of Marketing theories — Market Segmentation

You are studying Marketing, and some of the terminologies you find in the books or hear in lectures are just overcomplicated for no reason!

Say no more…

Welcome to our little mini-series where we break down and simplify Marketing theories. So without further ado, let’s dive into another essential theory of marketing and explore what it is and what it is used for.

Market Segmentation

Market segmentation is the business practice that refers to the process of a brand dividing their target market into smaller groups, more defined categories that share similar characteristics like geographic, psychographic, demographic and behavioural.

Market segmentation helps to differentiate your product/service from the competitor’s and have something specific that appeals to a certain audience, remember, nothing is “for everyone”! Performing market segmentation will help a business to identify the best content for your segment and the best channels to use to promote your product or service.

Over to you…

We’d love to hear what marketing theories you think needs to be simplified, or is missing on our list.

Let us know in the comments and we’ll be excited to check it out!

Thank you for your attention. It goes without saying that it means the absolute world to our team. We hope this piece of content helped you in even the slightest bit and if it did, please share with a friend/co-worker/etc. that could also benefit from this.

Written by Maria Golovacheva