Blog post 4

Blog Post 4

Market Segmentation

Market segmentation-“ is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries who have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them.”

Market segmentation can be broken down many different ways. As the definition says, you want to break each group up by common needs. Often when you are breaking people up by common needs you end up breaking them up as types of people.

For Stumble our target market is a college student, but of course we will sell to anyone. When we look at our sales we realize we can be more specific. Some items sell better to girls than to guys. Some shirts are more expensive and really only purchased by older folks as well as our most loyal customers.

Each of these pieces of info we were able to gather helped put us in the right direction for segmenting our market. We now market more to women than we previously did. We also make our new lines more available to adults and people who are not on college campuses’.

There are a few categories that you can generally use to guide your market segmentation.