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Market Segmentation Developing Insights Into Customer Needs and Optimizing Your Resources |
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By: Vadim Kotelnikov
Founder, Ten3 Business e-Coach – Inspiration and Innovation Unlimited!
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Why Market Segmentation? Divide and conquer! Successful marketers qualify their current and prospective customers. By doing so, they can better target their value propositions to different customer groups, which results in higher sales.
The Art of Innovation: 9 Truths By: Guy Kawasaki
Success Story Michael Dell Discovers the Power of Segmentation at the Age of 16 Michael Dell, the Founder of Dell Computer Corporation, discovered the power of market segmentation when he was 16. Michael got a summer ob selling newspaper subscriptions to The Houston Post. "At that time the newspaper gave its salespeople a of new phone numbers issued by the telephone company and told us to cold call them. It struck me as a pretty random way of approaching new business", says Michael Dell.3 Michael soon noticed a pattern, however, based on the feedback he was getting from potential customers during these conversations. There were two kinds of people who almost always bought subscriptions to The Houston Post: people who had just moved into new houses or apartments and people who had just married. having discovered this trend, Michael wondered how he could find all the people who were getting mortgages or getting married. He hired two of his high school buddies to identify sources of such information. Michael created a personalized letter for high-potential customers offering them a subscription to the newspaper. Within a matter of weeks, Michael created a steady income stream. The subscriptions came in by thousands. His income was about $18,000 that year. Actually, he made more money that year than his economics teacher did.
Defining Market Segment and Customer Profile... Market Segmentation by Consumer Behavior... Divide and Conquer... The Starting Point of Your Sustainable, Profitable Growth... Marketing & Selling Strategy at Different Company Growth Stages... The Best Technique to Win the Customer Over... Understanding Risks Perceived by Customers... Marketing and Selling Is All About Perceptions... "When" Is a New "What"... Differentiating With Different Types of People... Case in Point Nike... Case in Point Dell Computers...
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Bibliography:
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"Marketing Management," Czinkota Kotabe
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"Every Business is a Growth Business", Ram Charan and Noel. M. Tichy
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"Direct from Dell", Michael Dell with Catherine Fredman
