Market Segmentation Steps

Market Segmentation Steps (DSDESDI/MBMMAMM)

1. Define the Market

• Determine the overall market in which the business operates.

2. Select Bases for Segmentation

• Choose criteria for dividing the market (e.g., demographics, psychographics).

3. Divide the Market and Profile Segments

• Segment the market into distinct groups and outline their characteristics.

4. Evaluate Market Segments

• Assess the viability and potential of each segment.

5. Select Appropriate Market Segments

• Identify which segments to target based on evaluation.

6. Define Marketing Strategies

• Develop tailored strategies for the selected segments.

7. Implement Market Segmentation Strategy

• Execute the strategies and monitor results.