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Five Criteria Necessary For A Market Segment |
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Written by Linda P. Morton
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Monday, 26 May 2008 |
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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.
by LindaP.Morton
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.
The better you can identify market segments for your target market, the better you can design effective marketing strategics and tactics.
Wikipedia lists 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: Heterogeneity Between Market Segments
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
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.
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.
The more characteristics that a market segment's members share, the more you can treat the people in that segment as a single target market.
The more alike the people in a market segment are, the easier it is to target them with the same product or service. The more they have in common, the easier it is to select appeals and language to market across the segment.
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.
Market segment members must be different in some significant way from others in the mass market. Without significant differences, you have:
No characteristics to distinguish the market segment from everybody else,
No reason to select the market segment as a target market, and
No rationale for creating a marketing program.
When people in a market segment differ substantially from people not in that segment, it's easier to target those people. Thus, differences between segments is a major 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: Summary With More Access
By identifying a market segment in which people share many characteristics that differ from the mass market, you will improve your marketing
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.
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