How to Measure Market Segmentation & Marketing Mix
Marketing is both an art and a christian louboutin outlet science. Hard data gathered from market research is applied to the design and strategies used to persuade consumers to buy products. The marketing mix includes the product, price, place and promotion. The market segmentation refers to the demographics of the target market: age, gender, interests, race, income. Determining the best combination of marketing segmentation and mix is done through market research.Other People Are ReadingWhat Is a Good Marketing Strategy?Segmentation Criteria That Will Impact Your Target Market SelectionPrint this articleInstructions 1Employ surveys. Surveys can be used to gauge interest in a product, determine consumer habits and gather a large amount of data about segmentation strategies. The more comprehensive the survey, the more ways that data can be manipulated. The survey can be conducted by phone, direct mail cards, public questioners (on the street or mall,) or the internet. It is important to get the person's demographics; age, gender, income, race, occupation. The more information, the better. Some questions may be sensitive, so ask them carefully and tell the person that answering is optional. The rest of the survey questions can focus on a specific topic such as new product ideas, product review, or spending habits.2Organize a focus group. Focus groups provide an additional level of detail and insight. Focus groups allow a trained marketing professional a chance to interact with consumers. Focus groups can be much more revealing than surveys. For example, if a new product is presented, the faces and reactions of the participants can tell more than any "on a scale of one to five, how do you rate this product" survey can. The focus group should be comprised of people in the target demographic of the product. Focus groups are conducted in a variety of ways, depending on the purpose. Finding participants can be done through market research agencies or from classified ads. Many companies use their mailing lists to find participants.3Speak to existing customers. Perhaps people of all ages bought the product but only a certain demographic uses it regularly. Information like this is extremely valuable. This is slight different that focus groups or surveys, as the focus is solely on people who use the product. The can help confirm or deny the initial market research and can also be used for product development. Many customers fill out warranty cards or sign up for newsletters, customers can be found through these methods. Some of the best people to speak to are the ones who contact the company first, as they are obviously interested in sharing their thoughts.4Observe how customers use the product. This helps market researchers with the "Product" element of the marketing mix. It also allows them to see how market segmentation plays a role in product usage . For example, perhaps young people use the product differently than older people. This behavior can be measured and compared. Many companies are now doing human observation research. The company gives the product to people and, either in a controlled environment or the subjects' homes, watches (usually through a closed circuit cameras) them use it. Marketers can learn exactly how a person uses the product and how people use it differently, which can lead to product innovations and improvements. For example, if a cleaning product designed for use on glass, people may also use it on counter christian louboutin tops.
Marketing is both an art and a christian louboutin outlet science. Hard data gathered from market research is applied to the design and strategies used to persuade consumers to buy products. The marketing mix includes the product, price, place and promotion. The market segmentation refers to the demographics of the target market: age, gender, interests, race, income. Determining the best combination of marketing segmentation and mix is done through market research.Other People Are ReadingWhat Is a Good Marketing Strategy?Segmentation Criteria That Will Impact Your Target Market SelectionPrint this articleInstructions 1Employ surveys. Surveys can be used to gauge interest in a product, determine consumer habits and gather a large amount of data about segmentation strategies. The more comprehensive the survey, the more ways that data can be manipulated. The survey can be conducted by phone, direct mail cards, public questioners (on the street or mall,) or the internet. It is important to get the person's demographics; age, gender, income, race, occupation. The more information, the better. Some questions may be sensitive, so ask them carefully and tell the person that answering is optional. The rest of the survey questions can focus on a specific topic such as new product ideas, product review, or spending habits.2Organize a focus group. Focus groups provide an additional level of detail and insight. Focus groups allow a trained marketing professional a chance to interact with consumers. Focus groups can be much more revealing than surveys. For example, if a new product is presented, the faces and reactions of the participants can tell more than any "on a scale of one to five, how do you rate this product" survey can. The focus group should be comprised of people in the target demographic of the product. Focus groups are conducted in a variety of ways, depending on the purpose. Finding participants can be done through market research agencies or from classified ads. Many companies use their mailing lists to find participants.3Speak to existing customers. Perhaps people of all ages bought the product but only a certain demographic uses it regularly. Information like this is extremely valuable. This is slight different that focus groups or surveys, as the focus is solely on people who use the product. The can help confirm or deny the initial market research and can also be used for product development. Many customers fill out warranty cards or sign up for newsletters, customers can be found through these methods. Some of the best people to speak to are the ones who contact the company first, as they are obviously interested in sharing their thoughts.4Observe how customers use the product. This helps market researchers with the "Product" element of the marketing mix. It also allows them to see how market segmentation plays a role in product usage . For example, perhaps young people use the product differently than older people. This behavior can be measured and compared. Many companies are now doing human observation research. The company gives the product to people and, either in a controlled environment or the subjects' homes, watches (usually through a closed circuit cameras) them use it. Marketers can learn exactly how a person uses the product and how people use it differently, which can lead to product innovations and improvements. For example, if a cleaning product designed for use on glass, people may also use it on counter christian louboutin tops.
