Understanding the Wants & Needs of Each Segment

Understanding the wants and needs of each segment involves market research and gathering information from multiple sources, including customers themselves, which is called the Voice of Customer (VOC). Market Research The wants and needs of prospective and existing customer segments may require phone surveys, questionnaires, focus groups or combination of these approaches. Sources of Customer Read More

Ways to Segment Markets

Segmentation can be based on any number of criteria selected to suit a particular purpose, and each class may be segmented in more than one way. Market segments can be defined by demographic characteristics such as gender, geography, age, occupation and wealth. Demographic categories can also be refined or customized. Customers can also be segmented Read More