MARKET SEGMENTATION
Market segmentation defines where you are and where you want to go.
It also defines what you do well and where you might be well received.
It should also represent an accurate assessment of sales and profit potential.
We like beginning with a full understanding of current profitable customers.
Our goal is to identify key characteristics associated with profitable customers.
We then identify how those key characteristics are distributed within the market.
Market segmentation is a pragmatic balance between quantity and quality.
Quantity defines market segment size and quality defines profit potential.
Market segmentation is a mix of good judgment and accurate relevant data.
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