Sunday, September 12, 2010
Market Segmentation - Divide & Rule
When a business is new to the market, it may not be advisable to target the market players of the industry head to head. A very costly battle that may commence will prove heavy on the resources and may not prove worthwhile. So, the detour that one may think is to slice the market further by defining the market into smaller parts. Which we technically know of as "Market Segmentation". So, we end up defining brands that serve each of these market segments and serves them well. This brings some major advantages to ones marketing campaign in terms of better brand focus, & brand differentiation. The Final plan thereafter would be to take the market away from the already defined brands & established players part by part until the new business has the whole market. We can also call this strategy "Divide & Rule"... Pretty neat huh??!
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