Page 23 - IMDR JOURNAL 2023-24

IMDR’s Journal of Management Development & Research 2023-24

buy your goods. This involves gathering data on the ways in which each target audience group would be
exposed to your advertising, learn about your products, and communicate with one another.

Think about the possibilities for positioning
The entire branding and perception attached to a product or business is known as positioning. Depending on

how they want to divide their market, companies may place their items in various settings. For instance, a
company may market its premium product line by portraying its offerings as premium and superior. Consider

the many methods you may promote your product to each of the groups in your segmentation plan. It may not

make the best use of your segmentation approach if you are unable to come up with creative ways to interact
with a certain section.

Examine the competition

Examine how your rivals use their advertising mix to appeal to different categories and classify them. Having
a distinct segmentation plan can assist you in setting your company apart from competitors that provide

comparable goods. Think about how your company and goods stack up against those of your main rivals, then
figure out how to position your brand as the most desirable choice across different market segments.

With every category, evaluate your appeal
It is crucial to keep in mind that client habits might alter over time once your segmentation strategy is in place.

By gathering client information and keeping an eye on important engagement indicators, you can assess the

success of your segmentation plan. Try to engage with each section, and keep an eye on how the interests and
demographics of your audience shift over time to make sure your market segmentation plan stays applicable.

Think about
the people
who require
your
products.
With every Compile
category, information
evaluate on your
your appeal clients.
Market
Segmentation
Strategies.
Examine the
Examine the behaviours
competition of the
audience.
Think about
the
possibilities
for
positioning