Subscribe Thanks. More advanced Types of Market Segmentation With segmentation and targeting, you want to understand how your market will respond in a given situation, like purchasing your products.
Rather than have two separate segments, you should consider grouping both together in a single segment. The difference is that demographics look at individuals while firmographics look at organizations.
As you complete your market analysis, look at your segmentation critically and strategically. Dressing and Growing The market segmentation concept is crucial to market assessment and market strategy. For example, one of your segments may be a coupon maven, who is more likely to shop during a promotion or sale.
Nevertheless, it is possible to develop premium segments in which customers accept a higher price level.