Its a jungle out there, but its crowded in here.. Be brave & learn from your mistakes quickly! In reality, marketers can segment the market using any base or variable provided that it is identifiable, substantial, responsive, actionable and stable.

Segmentation Consideration include:
1. Identifiability - refers to the extent to which managers can identify or recognise distinct groups within the marketplace.
2. Substantiality - refers to the extent to which a segment or group of customers represents a sufficient size to be profitable. This could mean sufficiently large in number of people or in purchasing power
3. Accessibility - refers to the extent to which marketers can reach the targeted segments with promotional or distribution efforts
4. Responsiveness - refers to the extent to which consumers in a defined segment will respond to marketing offers targeted at them
5. Actionable – segments are said to be actionable when they provide guidance for marketing decisions.

This video is an introduction to the various aspects, however for a better understanding please check out the links from the "Additional Reading" section below and continue on your learning journey.

Note: Videos have been made with international students in mind, as such if your finding the speed of speech slow, please increase playback speed to 1.25 in YouTube.

I hope the video takes you beyond the definition & helps to make the learning process a little more tangible. Please subscribe & feel free to share.

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Video Content

0:00 - Introduction Market Segmentation Consideration
0:19 - Selecting Segment Descriptors
- What is Substantiality in segmentation?
- What is Identifiability in segmentation?
- What is Measurability in segmentation?
- What is Accessibility in segmentation?
- What is Responsiveness in segmentation?

1:20 - What are the components of Market?
2:20 - Benefit Base & Usage-rate Base
2:51 - Pareto Principle aka 80/20 principle
4:35 - What is the Value added by Market Segmentation?

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Came across a great saying:
Strategy and timing are the Himalayas of marketing. Everything else is the Catskills. - Al Ries and Jack Trout

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Additional Reading:


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School of Learning
Arnav Dutta
https://www.linkedin.com/in/arnav-dutta-a2020a44