Management Fix: Target Customers Definition and Segmentation

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Description

This week’s “Target Customers Definition and Segmentation” is a stepping stone for a customer-oriented company.

By definition, the target customer is the type of person that a company wants to sell its products or services.
(Extracted and adapted from https://dictionary.cambridge.org/dictionary/english/target-customer)

Segmentation means to divide the marketplace into parts, or segments, which are definable, accessible, actionable, and profitable and have growth potential. (Extracted and adapted from https://economictimes.indiatimes.com/definition/segmentation)

Companies employing customer segmentation operate under the fact that every customer is different and that their marketing efforts would be better served if they target specific, smaller groups with messages that those consumers would find relevant and lead them to buy…