Market Segmentation: Addressing Key Strategy Points

Obviously, a product won’t sell well if it’s being marketed to a disinterested customer segment.

The practice of market segmentation, also known as niche marketing, was created to eliminate this sort of scenario. Focusing on identifying pockets of customers that would typically be inclined to do business with your company, customer segmentation allows you to maximize your sales potential. In this 15-minute video, Stephen C. Campbell explains the main concepts behind market segmentation, how they can be applied to your business, and what the benefits of segmentation are.

Breaking down the concept further, Campbell says that companies should look to uncover customer personas that can fit within the market segments they plan to operate in. For more on market segmentation, watch the full video narrated by Campbell.