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This is why it’s so important to get the basics of marketsegmentation down. From identifying targetsegments with demographic data to pricing strategy to marketing automation, your marketsegmentation process will be the back bone of your entire marketing strategy.
Just think about where marketing sat five years ago. Siloed from other major departments, such as finance, technology, and HR, there was little collaboration or visualized long-term data to report on. That was marketing’s main function. CMOs need buy-in from major players to push the marketing agenda and be effective.
What is marketsegmentation? Marketsegmentation is the process of dividing a larger market into smaller groups of consumers with similar characteristics, needs, or behaviors. This is what we mean by segmentation in marketing. Why is marketsegmentation important?
They could be seasoned marketers, tech gurus, finance wizards, or manufacturing mavens who share their knowledge through: Blogs Videos Podcasts Social media So, when we talk about B2B creators, we’re talking about influential figures who are shaping the future of how businesses learn, connect, and make decisions.
You probably won’t need to calculate this — your finance team will likely have all the COGS data you need). Let’s say in our example earlier, the finance department told us that for every $25 t-shirt we sell, we make $15 in profit. ” you’re thinking. “That can’t be right!”
Obviously, you get your best answers from asking actual people, but for initial research, it’s really helpful generating offers for a particular targetmarket. Let’s try it. I am selling electric bicycles in Seattle.
It gives you the opportunity to do an in-depth analysis of internal elements that affect your whole business, or you can apply it to specific aspects of your company, like your marketing, finances, or products. Which targetmarkets or customer groups created the most sales? Why did (YOUR COMPANY) win them?
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