By Duke Merhavy, MBA, PhD
President & Chief Research Officer of Insight Marketing Research
We all know that when a garment is advertised as ‘One Size Fits All’, it never does. This is even more true when it comes to marketing. One marketing approach will never “fit all”. Luckily, there are great marketing tools available to help us tailor our marketing message to fit our prospects.
As a marketer you should never assume that one activity, or one message, directed at all potential buyers of your product is enough. Your marketing efforts should vary, depending on the intended recipient. Now, this does not necessarily mean (though it could) that every individual prospect (or organization) should be receiving a completely different message. It means that different groups within the target market should be receiving different messages more applicable to them. These “groups” are called “segments” in marketing. However, there is some confusion as to what market segments really are – Let’s clarify that: