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Identifying needs and recognising differences between groups of customers is at the heart of marketing. We cannot do everything, we cannot satisfy everybody. This means we have to be clever in targeting our offers at people who really do want and need them, and we have to be strong in setting aside those who do not. This early observation is fundamental as it requires us to think as hard about where do not want to sell our product as where we do.
Segmentation is simply the process of dividing a particular market into sections, which display similar characteristics or behaviour. There are a number of segmentation variables that allow an organisation to divide their market into homogenous groups...
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