Customer Segmentation by Self-Construct
A friend of mine is going to launch an Italian jewelry brand to China market and we have a chat about how to define target customers recently. He has a top selling model with a very unique design of infant nipple specially for pregnant women. This is the way he defines the target customers: Young and trendy expectant moms between the ages of 25 and 35, probably well-educated, middle class working white collars. Does this definition help him find out where his customers are? Marketers define their customers by the help of consumer research or historical sales data. Thanks to big-data technologies, marketers now can gain deeper insights into real-time consumer buying behavior and define audiences in very detailed variables. In general, there are four major dimensions for market segmentation: Geographic : nations, states, regions, countries, cities, climate, population density (urban, suburban, rural), neighborhoods; Demographic : age, life-cycle stage, gende...