What research designs do you think are applicable to segmenting a market?

Market segmentation is defined as research designed to help researchers identify segments in the market.

Segmentation refers to the process of creating small segments within a broad market to select the right target market for various brands and companies. Market segmentation helps the marketers and researchers to devise, create and implement relevant strategies to promote their products or services amongst the target market.

There are steps in market segmentation that help marketers to create and implement the strategies based on the companys business needs such as Identifying the target market, identifying the expectations of the target audience, Create subgroups, review the needs of the target audience, Identify and name market segments, marketing strategies and review the behaviors of the market.

Each of these steps are very important in the process of market segmentation and the strategy that will be created to effectively help market the brand or company.

Characteristics of market segmentation are based on age, gender, lifestyle and interest. Geographics, demographics, and behaviors are researched and studied as well.

Importance for repositioning a brand?

Marketing segmentation is very important in the process of repositioning a brand because it assesses various metrics based on brand awareness, perception, word associations and consumer engagement. Market segmentation helps to bridge the gap between the brands and consumers.

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