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Improve Marketing With Criteria Necessary For A Market Segment

May 26, 2008
Knowing the five criteria necessary for a market segment helps you, as a small business owner, to improve your marketing.

To be successful your marketing must target the people most likely to buy your products or services. These people are your target market.

You need to know who your best potential customers are and the market segments that they belong to. This knowledge enhances your ability to use marketing methods and messages that appeal to your potential customers.

You need to know five criteria necessary for a market segment:

First Criteria Necessary For A Market Segment: People In The Market Segment Share Similar Characteristics

Second Criteria Necessary For A Market Segment: People In The Market Segment Have Different Characteristics Than The Mass Market

Third Criteria Necessary For A Market Segment: People In The Market Segment Can Be Identified And Counted

Fourth Criteria Necessary For A Market Segment: Ability To Access The People In The Market Segment And Get Them To Take A Desired Action

Fifth Criteria Necessary For A Market Segments: Ability To Make A Profit

Knowing all the criteria necessary for a market segment will improve your marketing. You can learn about the first two in this article and go to my blog to learn about the remaining three.

First Criteria Necessary For A Market Segment: People In The Market Segment Share Similar Characteristics

A segment having commonality means that all the people in it have characteristics in common.

For example, generations comprise market segments. Baby Boomers have certain characteristics in common. Generation Xers have certain characteristics in common, but Xers characteristics differ from Boomers'. Marketing to a Boomer the same way that you market to a Generation Xer will fail.

When the people in a market segment share many characteristics, it's easier to design a marketing campaign for them.

When people are similar, they are more likely to want and need the same products and services. When they share many characteristics, it's easier to design a marketing campaign that builds on their common needs.

Second Criteria Necessary For A Market Segment: People In The Market Segment Have Different Characteristics Than The Mass Market

For a market segment to exist, the people in the segment have to be different from everybody else in some identifiable ways.

Market segment members must be different in some significant way from others in the mass market. Without significant differences, you have:

No way to separate the market segment from the rest of the mass market,

No reason to select the market segment as a target market, and

No rationale for creating a marketing program.

Differences between market segments create heterogeneity and provide 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

If you identify a market segment in which the people have lots in common, but are quite different from people in other market segments, you have the beginning of a successful marketing campaign.

Even if the people in a segment do share similar characteristics and those characteristics differ from those in other segments, you still need three more criteria for a market segment. (1) There needs to be enough people in the segment (2) to make marketing to them worthwhile. And (3) they must be the type of people who will take your desired actions.
About the Author
Read other Criteria for a Market Segment.You can get a free report on Market Segmentation there. Or get a free ebook: Marketing Your Small Business
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