Target market: segmentation, targeting, and positioning

Segmentation: Segmentation is the process of dividing a large population of customers or potential customers into smaller segments, which share certain characteristics and behaviors. This way, marketers can identify who their target audience should be and tailor their messaging and offerings to that specific customer base. Targeting: Targeting involves selecting a target market or customer segment to focus on. Companies typically look at factors such as age, location, income, and lifestyle when determining which segments they should target. Marketers must also decide which segment is most likely to have the highest potential for sales. Positioning: Positioning is the process of creating a message that differentiates your product from the competition and resonates with customers in your target market. It is important to create a distinctive message that communicates the benefits of buying from your company. Additionally, it is important to create a consistent message across all of your marketing communications.