Marketing Market Segmentation Checklist

The purpose of this document is to provide a comprehensive checklist for market segmentation in the marketing department of [Your Company Name]. Market segmentation is the process of dividing a broad consumer or business market into sub-groups of consumers or segments. This checklist aims to guide the team through the steps necessary for effective market segmentation.

Market Segmentation Criteria

Demographics

1. Age Groups

• 18-24

• 25-34

• 35-44

• 45-54

• 55-64

• 65+

2. Gender

• Male

• Female

• Non-Binary

• Prefer not to say

3. Income Levels

• Less than $25,000

• $25,000 - $50,000

• $50,000 - $75,000

• $75,000 - $100,000

• Over $100,000

4. Education

• High School or less

• Some College

• Bachelor's Degree

• Master's Degree

• Doctorate or higher

Psychographics

1. Lifestyle

• Active

• Sedentary

• Balanced

2. Values

• Environmentalism

• Family-oriented

• Career-focused

3. Interests

• Technology

• Sports

• Arts and Culture

Geographics

1. Region

• North America

• Europe

• Asia

• South America

• Africa

• Australia

2. Climate

• Tropical

• Temperate

• Cold

3. Urban/Rural

• Urban

• Suburban

• Rural

Behavioral

1. Purchase History

• Frequent Buyer

• Occasional Buyer

• First-time Buyer

2. Loyalty

• High

• Medium

• Low

3. Usage Rate

• Heavy User

• Moderate User

• Light User

Data Collection Methods

1. Surveys

Design and distribute surveys to collect data on customer preferences, behaviors, and demographics.

2. Interviews

Conduct one-on-one interviews to gather qualitative insights into customer needs and preferences.

3. Analytics Tools

Use analytics tools to collect data on customer behavior online. This could include website analytics, social media metrics, and customer relationship management (CRM) data.

Implementation Plan

1. Targeting Strategy

Decide on the targeting strategy, whether it is differentiated, concentrated, or mass marketing.

2. Marketing Mix

Develop a marketing mix (4Ps: Product, Price, Place, Promotion) tailored to each segment.

3. Budget and Resources

Allocate budget and resources for implementing the segmentation strategy.

Monitoring and Evaluation

1. Performance Metrics

Regularly monitor KPIs to evaluate the success of the segmentation strategy.

2. Feedback Loop

Establish a feedback loop with customers to continuously improve the segmentation strategy.

Conclusion

1. Summary

This checklist provides a comprehensive guide for market segmentation at [Your Company Name]. By following these steps, the marketing team can effectively segment the market and target customers more efficiently.

2. Next Steps

Outline the next steps for the team to take in implementing, monitoring, and continuously improving the market segmentation strategy.

Marketing Templates @ Template.net