How to segment the market?

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Creating a market segmentation requires thoughtful action and tailoring the process to the specifics of the sector. The key steps are outlined below. The first step in segmentation is to understand the market, which includes an analysis of the macro and microeconomic environment. This is achieved by using tools such as PEST analysis or Porter's 5 Forces analysis. It is crucial to identify the main market players, such as competitors, suppliers or potential partners. At the same time, technological, consumer and industrial trends that influence the evolution of customer needs are analysed.


Next, data about consumers is collected from a variety of sources. This process may include surveys, sales analysis, CRM data tracking, market reports, and web analytics. It is important to guatemala phone number data include both quantitative data, such as sales volume or demographic structure, and qualitative data, which may relate to customer opinions, preferences, or purchasing motivations.


The next step is to analyse the collected data to identify patterns of customer behaviour and characteristics. Advanced analytical tools such as cluster analysis or statistical modelling are used to group customers based on their common characteristics. It is important to understand which customer characteristics are most important, such as their profitability, level of loyalty or propensity for novelty.