Segmentation is the key to developing a marketing strategy that satisfies the needs of the customer.
My company is a banana bread business, we sell our quick breads online. There are 9 different styles of breads. We have a premium domain name that generate over 1 million hits per Google analytics.
This week I need help expanding my research on the banana bread market for my business with product ideas in order to be able to segment it.
Please then, identify the size and describe the characteristics of each segment you created. Finally, select the segments that will be your initial target market and justify your selections.
There could be various target segments for this product. For example, the online shoppers who often make grocery or food purchases online, such as the 20 or 30 something busy professionals who do not have time to visit local stores or find it more convenient to purchase online, are one of the most important target customers as the company mostly sells its products online. The size of this market will be the entire internet users falling in our age range and residing in urban areas.
Secondly, women customers in the age range of 20-50 will also be an important target market as women make most of the grocery and food purchases for their homes. The entire women ...
The expert discusses market segmentation strategy for banana breads.