What are the requirements for effective segmentation
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There are 5 key requirements for effective market segmentation: 1) segments must be measurable in size and characteristics, 2) segments must be large and profitable enough to target, 3) segments must be accessible to reach and serve, 4) segments must respond differently to marketing elements and be conceptually distinct, and 5) effective marketing programs can be formulated for attracting and serving each segment.
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What are the requirements for effective segmentation
- 3. Requirement 1 Measurable Size, purchasing power and characteristics of the segment can be measured.
- 4. Requirement 2 Substantial The segment should be large and profitable enough to serve.
- 5. It would not be wise for an automobile manufacturer to develop cars for people who are less than 4 feet tall.
- 6. Requirement 3 Accessible Segments can be easily reached and served.
- 7. Requirement 4 Differentiable Segments respond differently to different marketing elements and are conceptually different.
- 8. If married and unmarried women respond similarly to perfumes, they constitute same segment.
- 9. Requirement 5 Actionable Effective programs can be formulated for attracting and serving the segments.
- 10. Workshops and Seminars can be held for marketing.