From the course: Customer Experience (CX) Strategy: How to Design an Organizational Approach
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CX in market segmentation
From the course: Customer Experience (CX) Strategy: How to Design an Organizational Approach
CX in market segmentation
- [Narrator] There's no one size fits all when it comes to market segments. People are incredibly diverse in their behaviors and needs, and a customer or a market segmentation study will help you identify customers or buying occasions with important attributes so that you can most effectively set your CX priorities. As Hilary DeCamp, the chief research officer for Material's Insights Division, points out, unless you can dominate your category, you need to pick a lane and stick to it. "Market segmentation helps focus your marketing and product development efforts against a portion of the market, where you have a greater chance of succeeding," rather than trying to be all things to all people. To better understand how market and customer segmentation can help you, let's discuss the various methods of segmentation in more detail. Demographic segmentation groups customers by personal traits, like age, sex, and geography.…
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