Why market segmentation is a ‘must-have’ for your business | Experts at Infiniti explain the key benefits to consider
LONDON--(BUSINESS WIRE)--Nov 19, 2019--
A well-known market intelligence company, Infiniti Research, has announced the completion of its latest article on market segmentation. This article provides comprehensive insights into:
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Key benefits of market segmentation. (Graphic: Business Wire)
- What is market segmentation?
- How market segmentation can benefit your business
“ Many successful businesses continue to grow simply because they understand their markets and customers. Market segmentation is one of the best techniques that businesses can use to better target their customers,” says a market intelligence expert at Infiniti Research.
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You may also like to read some of our recent articles on market segmentation:
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Key benefits of market segmentation
Helps determine market opportunities
The benefits of market segmentation can be reaped by studying various customer groups and their level of satisfaction from the existing offerings. In case any gaps of dissatisfaction are observed, companies can use this as an opportunity to improve and launch products that meet the requirements of the customer segment.
Tailor-make marketing initiatives
With the help of market segmentation, companies can understand the varied mindsets of their customers. These benefits of market segmentation help businesses to make the necessary adjustments in their marketing initiative targeted at diverse groups of customers. It further makes the customers feel that the brand is sensitive to their needs and ultimately gain a sense of belongingness with the brand.
Product development and design
Another key benefit of market segmentation is that it helps businesses gauge the real expectations of customers from the brand. Companies can use market segmentation to identify what is working well for them and what is not in terms of their current market offerings. Brands can use this insight to make necessary alterations or additions to their products/services to ensure that customer needs are met efficiently.
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Determine product pricing
Other major benefits of market segmentation include its ability to determine product pricing. It is essential for companies to adopt different product pricings for different markets due to the price sensitivity of the customers in each market. Businesses can use market segmentation to identify the right prices to target new customers in various markets and fix prices for their products/services accordingly. This can help businesses ensure that their offerings are neither overpriced nor underpriced.
Read more about this and much more on Infiniti’s latest blog: Get Smarter with Market Segmentation: Top 5 Benefits for Your Business
Learn how a market segmentation strategy can help your business. Request for more information.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
View source version on businesswire.com:https://www.businesswire.com/news/home/20191119005073/en/
CONTACT: Infiniti Research
US: +1 844 778 0600
UK: +44 203 893 3400
INDUSTRY KEYWORD: MARKETING COMMUNICATIONS
SOURCE: Infiniti Research
Copyright Business Wire 2019.
PUB: 11/19/2019 10:03 AM/DISC: 11/19/2019 10:03 AM