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Customer Segmentation
Dividing customers into groups based on shared characteristics to enable more targeted sales and marketing efforts.
Implications
The practice of dividing a customer base into distinct groups based on shared characteristics, such as demographics, behaviors, or preferences, often used to tailor marketing, product offerings, and communication strategies.
Example
Example: A retail brand uses customer segmentation to divide its customer base into segments like budget shoppers, premium buyers, and online-only customers, allowing it to create targeted marketing campaigns for each group.
Related Terms
Different from mass marketing, which targets a broad audience, segmentation allows for more personalized and effective marketing efforts by focusing on specific groups.
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