Marketing Strategy : Market Segment Essay
It is important for my company to identify that different customers have different needs and by using marketing segments, which separates similar clients into categories, they are able to focus on their similar needs. By understanding what market segment is I can apply it in the marketing of Therapy Life Centre because I will be able to identify the customer’s needs, such as what products or treatments are most suitable for them, I will be able to understand the behaviour of the market and I can identify the size of the market.
Market segmentation & customer classification are both analytical techniques to help compare and group customers together in common characteristics. While market segmentation helps put customers into groups that share enough common characteristics to have a specific aim for them, customer classification is the individual reason why they come to our business. In Therapy Life Centre the customer classification can be business, leisure and health conditions, and for example the market segment for business could be the location, the turnover, the suitability of the environment and the type of therapies or service they provide, for example we would not advertise a space to a fast paced dance class because it would not fit in with Therapy Life Centres Holistic overview.
When working in a business it is important to identify the characteristics, motivation and behaviours of potential target customers because it will allow an…