There is no company whose products are “for everyone!”
Moreover, most of
the companies do not have enough resources to target large customer groups as
part of marketing efforts. This is why it is critical to know the right
customer / market segment that needs your product and, thereby allowing you to
create marketing campaigns that are essential for growth and development.
Otherwise, you will be only be in a guessing zone.
Well, effective
segmentation should be measurable, accessible, substantial, differentiable, and
actionable. When a company has segmented their market accordingly, there is a
higher chance that it will become more profitable and successful in the long
run.
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