Customer Segmentation requires managers to:
- Divide the market into meaningful and measurable segments according to customers’ needs, their past behaviors or their demographic profiles
- Determine the profit potential of each segment by analyzing the revenue and cost impacts of serving each segment
- Target segments according to their profit potential and the company’s ability to serve them in a proprietary way
- Invest resources to tailor product, service, marketing and distribution programs to match the needs of each target segment
- Measure performance of each segment and adjust the segmentation approach over time as market conditions change decision making throughout the organization
Xanaxx Practitioners can offer both practical solutions and hands-on implementation plans to help put your organization on the path to success. Contact us today!