4.3.6 Perform Customer Segmentation

The cornerstone of your marketing plan, if not your entire business strategy, is your target market, often known as your ideal client. Since you’ll Need to Keep Them in Mind While You Make Strategic Choices, It’s Important to Understand and Include Them in Your Strategy.

Give a thorough description of a number of broad and specific demographic characteristics to give a complete picture of your potential client. Customers are typically segmented as follows:

• Their location
• Age range
• Age range
• Several typical behavioural tendencies
• what they do in their spare time
• What they do for a living, where they work, and how much money they make
• where they are often employed
• their principles, opinions, or values

This information will vary depending on what you’re giving, but you should be specific enough to make it clear exactly who you’re trying to target. More significantly, you should discuss your reasoning for your choices in light of your clients’ personalities and values.

For instance, the hobbies, purchasing habits, and price sensitivity of a 50-year-old CEO of a Fortune 500 company differ from those of a college student. Your business strategy and activities would seem extremely different depending on which of them was your ideal customer.