10/24/21, 11:53 PM Market Criteria for effective Segmentation

CATEGORIES
Market Criteria for Finance Management

effective
(1,308)
General / Interesting
(1,018)

Segmentation Human Resource

Management (3,935)
November 2, 2009 / Sales/Marketing Management Operations
Management (1,202)
A decision to use a market segmentation strategy Sales/Marketing
should rest on consideration of four important Management (2,249)
criteria that affect its profitability. In order for
segmentation to be viable; the market must be (1)
identifiable and measurable (2) accessible, (3) Search … 
substantial and (4) responsive.

Identifiable and measurable: Segments must be RECENT POSTS

identifiable so that the marketer can determine

Delays in hiring: When
which consumers belong to a segment and which do
your dream offer takes
not. However, there may be a problem with the ages to reach you !
segment’s measurability (that is, the amount of Hiring for
information available on specific buyer Competencies or
characteristics) because numerous variables (e.g. Credentials?
psychological factors) are difficult, if not impossible, Termination on No-
to measure at the present time. For example, if the Show after Maternity
marketer discovered that consumers who perspire Leave

profusely favored a particular brand, very little could Re-booting your career
after a sabbatical
be done with this information since such a group
Managing office
would be difficult to measure and identify for
romance when it turns
segmentation purposes.
stale

https://www.citeman.com/7492-market-criteria-for-effective-segmentation.html 1/4
10/24/21, 11:53 PM Market Criteria for effective Segmentation

Accessible: This criterion refers to the ease of Dual Employment or a

effectively and economically reaching chosen Part-Time Job
segments with marketing efforts. Some desired How to build a team

segments may be inaccessible because of legal after all your employees

leave?
reasons; for example, liquor manufacturers are
Attrition : Is there any
unable to market directly to young teenagers, In fact,
solution to it ?
there is a vigorous debate dealing with the
What happens when
constitutionality of segmenting and targeting certain
HR makes you declare
groups. Cigarette companies that aimed recent new fake experience in writing
brands at 18 – 24 year old black women with a high Managing Talent-
school education or less have been criticized, and Experience as a Vendor
legislation to protect these targeted groups from How to turn around
such advertising has been proposed. The Late-Reporting to office?
Association of National Advertisers defends the Exit Formalities : When
practice and claims such proposals amount to your employer is not ready
censorship and a violation of First Amendment to relieve you from your
services!
rights.
How to survive when
your role is soon to be
It is more likely, however, that segments may be
eliminated ?
inaccessible because the marketer is unable to
What happens when an
reach them at a reasonable cost and with minimum
Open-Door meeting goes
waste via existing promotional media and retail wrong?
outlets. An Year-End-Review
Red Flag a New Hire:
Substantial: This collection refers to the degree to Do’s and Don’ts
which a chosen segment is large enough to support How to Run An
profitably a separate marketing program. As was Effective Conference
noted preciously a strategy of market segmentation How to create a perfect
is costly. Thus, one must carefully consider not only profile to land the dream
the number of customers available in a segment but job
Gambling Versus
also the amount of their purchasing power.
Investing – The Ins And
Outs
Responsive: There is little to justify the development
Why Training Programs
of a separate and unique marketing program for a
don’t impact Business
target segment unless it responds uniquely to these
Objectives? – Thought
efforts. Therefore, the problem is to identify market Paper
https://www.citeman.com/7492-market-criteria-for-effective-segmentation.html 2/4
10/24/21, 11:53 PM Market Criteria for effective Segmentation

segments that will respond favorably to marketing TAGS

programs designed specifically for them.
Appraisals Attrition

If the four criteria above are fulfilled segmentation Background verification

will be an attractive marketing strategy. The question BPO Budget Business

remains, however: By which variables or bases may Business Growth
be market be segmented?
Career management

Career progression
How to build a database for marketing:
Change management

1) Compile a computerized list of, your individual communication

customers, including the information you already compensation and benefit

have about customer. How long has a person been a culture decision making
customer? How much does he or she spend? Does
employee morale
this person pay with a check or credit card? What
employee satisfaction
type of product or service does this person buy?
growth hiring
2) Review the data items to determine which ones
can help you improve the efficiency of your HR Champion

marketing efforts and which ones don’t matter. The Human resource

details of the purchasing behavior of your customers implementation Internet

is important for example knowing a person’s age and Interview Job leadership
sex. But if everyone who buys your product is college
leadership development
educated, may be you don’t need to collect
marketing motivation
information about educational attainment.

office politics
3) Figure out what’s missing. It’s unlikely you already
have all the information you need to target your organizational development

customers more precisely. To find out more about organizational growth

the demographics, psychographics, and media organization development

habits of your customers, you may need to survey a people management
sample of your database. If can’t afford that, many
performance management
firms can take a list of your customer’s addresses,
personal excellence
assign each one of its census block, and supply you
Personal leadership
with the typical demographic characteristics of the
development
households in that block.

recruitment
4) Determine who your best customers are. Segment
your database by the dollar value of your customers. reference check sales

https://www.citeman.com/7492-market-criteria-for-effective-segmentation.html 3/4
10/24/21, 11:53 PM Market Criteria for effective Segmentation

By knowing the characteristics of your best Social media Strategy

customers, you can target potential customers who Talent management
share those characteristics.
termination
5) Keep your database up to date. A customer
tips for interviewers
database is a long term relationship, not a one night
training and development
stand. Keeping it up to date will require money and
constant maintenance but it should pay off in bigger
profits.
RELATED POSTS
—
Arbitrage funds
opportunities
Workplace health
hazards: Problems and
« VIEWS OF THE MARKET AND ALTERNATIVE MARKETING Remedies
STRATEGIES Conflict can act as a
GROUPS CANNOT BE HOMOGENEOUS » force to increase
performance
Index funds
Strategy for Everything
Acceptance sampling
Degree of commitment
for exports
Media Scheduling
Surety
Difficulties of
International Marketing

WordPress Theme: Gridbox by ThemeZee.

https://www.citeman.com/7492-market-criteria-for-effective-segmentation.html 4/4