Market segment analysis

Segments are a way of understanding your customer’s needs and wants and developing your marketing strategy around them to target the segments that in one’s expert opinion will perform the best. Since segmentation can be a very broad area there are many ways of gathering information, but you must focus on one that will yield the best results for the information that you are looking to examine. For example, it is more cost effective for a telephone company to conduct their analysis by looking at their customer’s bill and finding their average phone usage on either long distance or local. From there they can determine who to telemarket for a more attractive long distance plan.

Information can be gathered through the use of written or verbal surveys, electronic d...