describe any two factors on the besis of which the people choose the type of market
Answers
Answer:
please please give me the
Answer:
here is your answer
Explanation:
Using different types of market segmentation allows you to target customers based on unique characteristics, create more effective marketing campaigns, and find opportunities in your market.
See how you can leverage market segmentation by learning:
What market segmentation is
Why market segmentation is important
The four types of market segmentation
How to create a market segmentation strategy
What Is Market Segmentation?
Market segmentation is the process of dividing a target market into smaller, more defined categories. It segments customers and audiences into groups that share similar characteristics such as demographics, interests, needs, or location.
Eight Benefits of Market Segmentation
The importance of market segmentation is that it makes it easier to focus marketing efforts and resources on reaching the most valuable audiences and achieving business goals.
Market segmentation allows you to get to know your customers, identify what is needed in your market segment, and determine how you can best meet those needs with your product or service. This helps you design and execute better marketing strategies from top to bottom.
Market segmentation helps you get to know your customers, identify what's needed in your market segment, and determine how you can best meet those needs with your product or service. Click To Tweet
1. Create stronger marketing messages
When you know whom you’re talking to, you can develop stronger marketing messages. You can avoid generic, vague language that speaks to a broad audience. Instead, you can use direct messaging that speaks to the needs, wants, and unique characteristics of your target audience.
2. Identify the most effective marketing tactics
With dozens of marketing tactics available, it can be difficult to know what will attract your ideal audience. Using different types of market segmentation guides you toward the marketing strategies that will work best. When you know the audience you are targeting, you can determine the best solutions and methods for reaching them.
3. Design hyper-targeted ads
On digital ad services, you can target audiences by their age, location, purchasing habits, interests, and more. When you use market segmentation to define your audience, you know these detailed characteristics and can use them to create more effective, targeted digital ad campaigns.
4. Attract (and convert) quality leads
When your marketing messages are clear, direct, and targeted they attract the right people. You draw in ideal prospects and are more likely to convert potential customers into buyers.
When your marketing messages are clear, direct, and targeted they attract the right people. Click To Tweet
5. Differentiate your brand from competitors
Being more specific about your value propositions and messaging also allows you to stand out from competitors. Instead of blending in with other brands, you can differentiate your brand by focusing on specific customer needs and characteristics.
6. Build deeper customer affinity
When you know what your customers want and need, you can deliver and communicate offerings that uniquely serve and resonate with them Click & Tweet! . This distinct value and messaging leads to stronger bonds between brands and customers and creates lasting brand affinity.
7. Identify niche market opportunities
Niche marketing is the process of identifying segments of industries and verticals that have a large audience that can be served in new ways. When you segment your target market, you can find underserved niche markets that you can develop new products and services for.
8. Stay focused
Targeting in marketing keeps your messaging and marketing objectives on track. It helps you identify new marketing opportunities and avoid distractions that will lead you away from your target market.
The Four Types of Market Segmentation
The four bases of market segmentation are:
Demographic segmentation
Psychographic segmentation
Behavioral segmentation
Geographic segmentation
Within each of these types of market segmentation, multiple sub-categories further classify audiences and customers.