Market segmentation - How to identify your best target audience

How can you know your best target audience? What industry is best for your business model? How can you market your product or service?
In this fifth digital marketing lesson, I deepen market segmentation. After watching, you’ll understand the characteristics of an attractive market segment, you’ll learn the different segmentation criteria and schemes (geographical, demographic, psychographic, behavioral, situational) as well as the main four segmentation strategies: full market coverage (or undifferentiated segmentation strategy), multiple segments specialization (or differentiated segmentation strategy), single segment concentration (or concentrated segmentation strategy) and individual marketing (one-to-one marketing).
I also show how to use a powerful audience classification system based on psychographic criteria: Strategic Business Insight’s (SBI) VALS framework. You can take this survey yourself and discover your VALS type! Check the section of this description called “Useful links”.
Table of contents:
1:06 - What a market segment is;
2:43 - Benefits and drawbacks of market segmentation;
4:33 - Geographic segmentation criterion;
5:44 - Demographic segmentation criterion;
7:41 - Psychographic segmentation criterion;
7:55 - VALS classification system;
10:13 - Behavioral segmentation criterion;
12:33 - Situational segmentation criterion;
14:00 - Undifferentiated market segmentation strategy;
15:17 - Differentiated market segmentation strategy;
16:10 - Concentrated market segmentation strategy;
16:34 - One-to-one marketing.
#AlbertoCarniel #MarketSegmentation
Useful links:
Related blog article: bit.ly/2txa8Zw
Take the US VALS survey: bit.ly/usvals
Book a consultancy: bit.ly/BookAConsultancy
Reach out on Social Media:
Subscribe to my RUclips channel: bit.ly/AlbertoCarnielYT
Connect with me on LinkedIn: / albertocarniel
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I'm Alberto Carniel, an international e-commerce and digital marketing consultant. I have worked with over 40 private and public organizations worldwide, and have collaborated with many important brands like Unilever, Retro Fitness, McFIT Group, HubSpot or Esercito Italiano.
Book a free talk: bit.ly/Bookatalk
Book a consultancy: bit.ly/BookAConsultancy