I’m not a fan of market segmentation. I’m even going to go out on a limb and say that it’s mostly a load of rubbish.
Companies pay precious few marketing dollars to research companies that all too often use a one-size-fits-all template for identifying segments. The creative work goes into describing the ‘lifestyles’ and customizing the titles of these segments, typically based on psychographics (more bunk). Then of course, the thinking and marketing dollars are segmented based on the segments and what do you get? Utter confusion and not enough money put towards any particular segment to convince anybody to buy the product.
Marketing starts with the product. If you don’t have a relevant and meaningful difference built into the product – and just as importantly, know how to communicate the difference – you will fail. And all the segmentation and lifestyle research in the world won’t save you.
Rather than differences, it’s better to find the similarities amongst the audience. Once that’s known, concentrate your message and dollars and you’ll be more likely to break through and create a famous and profitable brand.
In the end, it’s far better to inspire the consumer to come to the product, than to slice and dice imaginary lifestyles.
Any comments, thoughts and suggestions on this topic would be most welcome.
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