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We provide full-service marketing solutions for brands that are ready to thrive in new markets.
Entering a new market seems daunting. Our multidisciplinary team brings a vast array of insights into the dynamics of the current market and techniques to meet your business objectives. Make better, informed, and strategic decisions for your brand with our pragmatic solutions and industry-leading frameworks to elevate your business to another level.
From brand marketing to trade marketing, we strive to bring the best possible outcome to your businesses through our tailored marketing solutions.
What is market segmentation and why it’s important
There are multiple components in marketing strategies, a prominent one being market segmentation. Market segmentation is the act of dividing up your target audience into smaller categories that share similar characteristics.
Market segmentation is a prevalent component of our tailored strategies and here’s why:
Market segmentation will support your overall marketing strategy and identify marketing efforts that will be effective for your brand. It’s advantageous for brands to have a solid foundation in their market segmentation in order to have a tailored message that will be received effectively by customers. Incorporating market segmentation goes beyond defining customer segments it leads to you having cohesive customer segments that results in every brand’s dream – customer retention.
Types of segmentation and how to get started
There are different types of segmentation that can be applied in a strategy to help you understand how your target market will respond to your brand’s product and service.
Here’s a rundown:
This is one of the most effective methods of targeting specific customers. Information pertaining to age, gender, income and socio-economic type is factored in when it comes to demographic segmentation. Divvying up your target audience by demographics can help you in more ways than one. If you’re looking to launch a new product that’s male-centric, it will save your marketing budget and make for a more effective marketing campaign overall.
With psychographic segmentation it’s all about diving deep into the minds of your target audience. What are their interests, lifestyles, and goals? When done right, psychographic segmentation will allow for the creation of more quality content. Using this information and incorporating them into marketing messages will lead to a stronger following for your brand and in turn will help you to achieve every business owner’s dream, brand loyalty!
This type of segmentation focuses on the reactions and the buyer’s journey stage. Brand loyalty is a great example to analyse – Brand loyalty where consumers purchase from a brand over and over again, products a buying pattern that is consistent and can be considered a behavioural trait. How can you help to ensure that each customer has a unique experience? With behavioural segmentation, our team will optimise marketing campaigns to match your customers behavioural patterns.
Geographic Segmentation is one of the more simpler target market segmentation methods. Your target customers are divided up based on their geographic borders. The segments may include the cities they live in, whether it’s a rural or urban setting, even the climate of their area. For clothing brands, this is an incredibly helpful method to identify who needs cooler clothing versus warmer clothing.
Where demographic segmentation analyses individuals, firmographic segmentation looks at organisations. Think demographics for B2C market segmentation where factors such as company size, industry, number of employees and more are taken into consideration.
At Brand Catalyser, we’re known for our tailored solutions. One of the first steps of our approach is to carry out audience and market segmentation which enables us to provide a tailored strategy to you and your brand. Our team is aware of the differences and diversity within the countries we cover. As you’ve read from this article, there are different types of market segmentation, but do not fear! This is where our team shines. Our strategy enables us to keep exploring new territories and continuously optimise our efforts to achieve quality returns. So sit back as we take care of your market segmentation strategy as a part of the tailored solutions we offer you.
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