Too few segments or selection of too narrow a segment may result in low profits, which do not allow for maintaining financial liquidity. On the other hand, too broad scope of activity may lead to the loss of benefits that could result from specialization in a particular segment. The key to success is therefore a detaile analysis of individual segments, which will allow us to assess their attractiveness and potential. We recommend How does microsegmentation affect business growth? Target market – segments The process of defining the target market is base on the analysis of market segments.
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Segments are evaluate base on several criteria. Among the most important we will mention: segment size and capacity, development trends, the number of competitors, price sensitivity, market barriers – entry and exit, consumer trends , compliance of the Honduras WhatsApp Number List segment with the objectives and resources of the enterprise. Step by step market selection How to define the target market? The first step in this process is customer analysis. A newly establishe company should prepare a model of an ideal customer.
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The model must take into account: the nees of recipients. The values they follow, demographic data, the language they use, purchasing power, lifestyle and shopping preferences. Entrepreneurs who have been in business for some time should start by BH Lists gathering information about their current and former customers. The next step is to identify the common features of these customers and create a persona, a model customer. If the company directs its activities to business customers and not individual customers, pay attention to: company size.
