Steps in Market Segmentation

  • IDENTIFY MARKET SEGMENTS

  • IDENTIFY PRIORITIES OF EACH SEGMENT

  • EVALUATE POTENTIAL GROWTH OF EACH SEGMENT (MARKET RESEARCH)

  • SELECT THE TARGET SEGMENT

The target segment you select should have the following characteristics:

  • It should be growing enough to enable you achieve your vision
  • Pick the segment where you have competitive advantages
  • Find this out by conducting a SWOT analysis

  • ANALYZE THE TARGET MARKET