How to Use Market Segmentation: Developing a Target Market

What’s better than watching videos from Alanis Business Academy? Doing so with a delicious cup of freshly brewed premium coffee. Visit www.lannacoffeeco.com and get free shipping on your online order.
Help us learn more about your experience by completing this short survey: www.surveymonkey.com/r/RRKS8LZ
Subscribe to Alanis Business Academy on KZread for updates on the latest videos: kzread.info...
Market segmentation is a commonly utilized concept in business where a larger market of consumers is divided into smaller groups of consumers who share certain characteristics. The goal is to generate what is known as a target market, which is an identifiable group of consumers who behave in a similar way, have similar interests, and share similar characteristics. Firms utilize demographic, geographic, psychographic, and behavioral segmentation as a way of generating a target market.
In this updated video on market segmentation we discuss the target market as wel as explain how firms use market segmentation to generate a target market. If you have any questions after viewing the video please post them in the comment box below and I'll do my best to answer them as soon as I can. Thanks for watching!

Пікірлер: 206

  • @coreyt.rogers9376
    @coreyt.rogers93767 жыл бұрын

    I wonder if most of the viewers realize that this information is GOLD!

  • @imranahmed-gt8ct

    @imranahmed-gt8ct

    4 жыл бұрын

    Lovely info ! Please do a video on how to validate your idea or mvp

  • @waynejansenvanrensburg4069
    @waynejansenvanrensburg40693 жыл бұрын

    Best segmentation video on KZread. So easy to understand.

  • @clickprofileimage

    @clickprofileimage

    2 жыл бұрын

    Do you need help with your assignments? Email me.

  • @chryssoulable
    @chryssoulable9 жыл бұрын

    Thank you.You've got a great teaching style. :)

  • @brunalockerz
    @brunalockerz5 жыл бұрын

    Thank you so much for you time and for sharing your knowledge. I`m an International Business`s student and I`m watching videos to remember what I learned in college... Your videos are amazing. I`m learning and remembering so much. Thank you once more. :)

  • @_sunvsmoon
    @_sunvsmoon Жыл бұрын

    These videos have been so helpful for me in really going beyond just basic understanding reading CLEP preparation books and flash cards.

  • @Alanisbusinessacademy
    @Alanisbusinessacademy10 жыл бұрын

    Glad I could help Harrison! Good luck with your consulting interview. I've received a couple of requests on the value chain so I may have to revisit that concept. Thanks for the suggestion.

  • @marzjaimani
    @marzjaimani Жыл бұрын

    This video was sooooo helpful! Please continue to post business and finance content! This is soooo amazing!

  • @Alanisbusinessacademy
    @Alanisbusinessacademy10 жыл бұрын

    You're very welcome. Good luck Pruthvi!

  • @lanster37
    @lanster377 жыл бұрын

    Thank you for the vids. What a great vid recaps to watch. I love your voice! Very engaging. Keep up the great work.

  • @huntersabin8291
    @huntersabin82914 жыл бұрын

    Learned more from this video than my textbook! Great video!

  • @rhonzfitz621
    @rhonzfitz6214 жыл бұрын

    What an EXCELLENT Presentation!!! Helped a lot!!👊🏽👊🏽

  • @makky21
    @makky219 жыл бұрын

    Your real-world examples are fantastic. THANK YOU!

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    9 жыл бұрын

    makky21 I'm glad that you liked the examples! Thanks for watching and please subscribe if you haven't already.

  • @pandorajack

    @pandorajack

    11 ай бұрын

    Until now, these examples are still useful 😆

  • @mokauroots
    @mokauroots8 жыл бұрын

    Bro this is awesome! Really! Im gonna go premium. Thank you :)

  • @dedu98
    @dedu986 жыл бұрын

    I love the way you explain things. So easy to understand! Thanks!

  • @NeptuneDesign
    @NeptuneDesign5 жыл бұрын

    this is one of the best explainer videos

  • @priscillaknight4678
    @priscillaknight46787 жыл бұрын

    Great information and explanation! Your video really put things in perspective for me.

  • @PadraigOCallaghan
    @PadraigOCallaghan8 жыл бұрын

    Thanks for the video it really helped explain things.

  • @reggie42167
    @reggie421675 жыл бұрын

    This is a great explanation of market segmentation. It cleared my mind on how to apply these different segmentation concepts. Thanks!

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    5 жыл бұрын

    Glad to hear that, Reggie!

  • @ThabithaTefo
    @ThabithaTefo Жыл бұрын

    Thanks for the Education, i watch most of your videos for my exam. so simple to understand.

  • @veinbergalinda
    @veinbergalinda8 жыл бұрын

    Amazing presentation! You helped a lot for my exam preparation. Aiming for an A after this! ;)

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    8 жыл бұрын

    +Linda Veinberga Thank you! Good luck on your exam!

  • @spacemouse9559

    @spacemouse9559

    3 жыл бұрын

    @@Alanisbusinessacademy uhas awh Ty’s

  • @katiewright6058
    @katiewright6058 Жыл бұрын

    This was a perfect explanation thank you

  • @1omondimoses
    @1omondimoses3 жыл бұрын

    Great wealth of information there, thank you from Nairobi Kenya 🇰🇪 2021

  • @voltairepabustan
    @voltairepabustan2 жыл бұрын

    PURE GOLD, Really outstanding👌

  • @clickprofileimage

    @clickprofileimage

    2 жыл бұрын

    Do you need help with your assignments? Email me.

  • @binti990
    @binti99010 жыл бұрын

    Thnx a ton for the videos....they are a gr8 help fr me as i cannot devote much time to books, just by watching your videos i get a gr8 deal of help in the subject. thnx a lot.

  • @arcanejj
    @arcanejj2 жыл бұрын

    thank you for this vid. it really helps with my entrepreneurship assignment report

  • @Alanisbusinessacademy
    @Alanisbusinessacademy9 жыл бұрын

    Learn how to establish your target market through market segmentation in this lesson: buff.ly/1EHqsmn #AlanisBusiness

  • @alagupandie7422
    @alagupandie74222 жыл бұрын

    Every unit is unique and has its own charm and market segment . You are the best person in the unit to define it . Heritage Dining , Market segment - Tourists . Kindly present your unit with its strength , where you foresee your property in next one year .

  • @clickprofileimage

    @clickprofileimage

    2 жыл бұрын

    Hello! Do you need help with your assignments? Email me.

  • @williamcampbell2001
    @williamcampbell20017 жыл бұрын

    Great work! Well done thanks!! Keep it up bro

  • @xuhaofan5509
    @xuhaofan550910 жыл бұрын

    thanx man, very specific and clear, just wat i need.

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    You're welcome Xuhao. Best of luck to you.

  • @Sanjeed
    @Sanjeed3 жыл бұрын

    Thanks for the clear and concise explanation!

  • @clickprofileimage

    @clickprofileimage

    2 жыл бұрын

    Do you need help with your assignments? Email me.

  • @alizangeneh7129
    @alizangeneh71297 жыл бұрын

    Thank you! I found this very helpful and useful!

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    7 жыл бұрын

    That's great! Thanks for watching.

  • @clembo69
    @clembo6910 жыл бұрын

    Doing a case study on market segmentation and this video helped so much, you sir are my hero.

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    Glad I could help Clembo Peeps.

  • @graceting6947
    @graceting694710 жыл бұрын

    Thank you! Your video is really useful. I was wondering what is the geodemogrphic segmentation? Could you explain it, thanks!:)

  • @magomedovamedeya9449
    @magomedovamedeya944910 жыл бұрын

    GREAT LECTURE. THANK YOU SO MUCH. CAN'T GET ENOUGH OF IT

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    Appreciate it Magomedova Medeya!

  • @thapelothapelo6979
    @thapelothapelo69792 жыл бұрын

    Simple yet powerful. Thank you

  • @clickprofileimage

    @clickprofileimage

    2 жыл бұрын

    Do you need help with your assignments? Email me.

  • @raychelleinjete4024
    @raychelleinjete40243 жыл бұрын

    The best ever presentation on target market. Tks

  • @clickprofileimage

    @clickprofileimage

    2 жыл бұрын

    Do you need help with your assignments? Email me.

  • @torro6050
    @torro605011 жыл бұрын

    great stuff. Thanks for posting these videos :)

  • @aishamohamed4682
    @aishamohamed46824 жыл бұрын

    Very educative. Thank you!

  • @Alanisbusinessacademy
    @Alanisbusinessacademy10 жыл бұрын

    You're welcome Ruchi.

  • @shubhnapa
    @shubhnapa10 жыл бұрын

    thank you very much clearly expained

  • @GarryBryant1
    @GarryBryant19 жыл бұрын

    Thank you I enjoyed your presentation.

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    9 жыл бұрын

    Garry Bryant I'm glad to hear that! Thanks for watching.

  • @Alanisbusinessacademy
    @Alanisbusinessacademy10 жыл бұрын

    You're welcome!

  • @marcellogamberoni497
    @marcellogamberoni4972 жыл бұрын

    This is really really good content. Love the way it is explained and the presenter's voice is great

  • @clickprofileimage

    @clickprofileimage

    2 жыл бұрын

    Do you need help with your assignments? Email me.

  • @farazali6086
    @farazali60864 жыл бұрын

    thanks alot your video helped me alot

  • @mavischauke6724
    @mavischauke67243 жыл бұрын

    Thanks I have learned more today. I do appreciate it it helps me get to know better about target market

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    3 жыл бұрын

    Happy to help!

  • @harrisonokkay9903
    @harrisonokkay990310 жыл бұрын

    subscribed! watched ur 4p's swot, porter 5, and a bunch more to help me prepare for my consulting interview your videos are the best :) could i request to do value chain next? on how to create value though its internal operations and processes? thank you again

  • @EspertoBusinessPlan
    @EspertoBusinessPlan7 жыл бұрын

    Grat video, simple but complete!

  • @mokubebatholomew2872
    @mokubebatholomew28725 жыл бұрын

    Very helpful thanks keep up the good work

  • @thfilmaker
    @thfilmaker9 жыл бұрын

    These video's were very help for me while I studied for my Marketing CLEP. I was wondering if you could upload a video on elasticity & inelasticity. Great job and please keep up the good work!

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    9 жыл бұрын

    thfilmaker Thank you! I do have a video available in price elasticity: kzread.info/dash/bejne/ZIuf1tuSk8enZ9I.html. I hope you find it helpful and please subscribe if you haven't already. Thanks!

  • @renyujin8077
    @renyujin807710 жыл бұрын

    ohhh what a good lecture! Your videos helped me a lot!! Thank you so much!! Hope i can get good score next week! ^^

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    Glad I could help Renyu Jin! Good luck on your exam next week. Let us know how it goes.

  • @cansam2905

    @cansam2905

    4 жыл бұрын

    good score for what??

  • @ImRajja
    @ImRajja10 жыл бұрын

    Im building my business plan. Your video helped me lot. Thanks.

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    Good for you! Best of luck Raja!

  • @95atomic95
    @95atomic958 жыл бұрын

    Your video help my so much,thank you a lot !!!

  • @studyaccount5479
    @studyaccount54796 жыл бұрын

    really helped and interesting thanks

  • @dawneabdulal-bari9313
    @dawneabdulal-bari93134 жыл бұрын

    Excellent! Thanks !

  • @abhishekganotra1923
    @abhishekganotra19237 жыл бұрын

    Thanks for explaining this .. :) Helped me prepare for an exam. You got one more like added.

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    7 жыл бұрын

    Glad I could help! Hope you did well on your exam!

  • @abhishekganotra1923

    @abhishekganotra1923

    7 жыл бұрын

    certainly did ... I got this exact question to which I replied exactly the same 😂

  • @AshishMadkaikar_starman
    @AshishMadkaikar_starman9 жыл бұрын

    very nice, subscribed and shared - thank you so much.

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    9 жыл бұрын

    ***** I really appreciate that!

  • @mohamedahmed890
    @mohamedahmed89010 жыл бұрын

    great one its simple and easy but if it had more examples it will wonderful

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    Thanks Mohamed. I agree that more examples are always better.

  • @PhuongPhan-of5mn
    @PhuongPhan-of5mn Жыл бұрын

    very helpful, thank you

  • @patricethomas4132
    @patricethomas413210 жыл бұрын

    Great explanation and examples. I really grasped what each segment is used for. Thanks!

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    Glad to hear that! Thanks Patrice.

  • @vickiesteinhoff7425
    @vickiesteinhoff742510 жыл бұрын

    thank you, I am a graduate student in NPO leadership and Management writing a paper and this video helped me understand the information better than the reading materials. Thank you for posting

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    You're very welcome Vickie Steinhoff. Good luck writing your paper.

  • @abhishekiyer8442
    @abhishekiyer844210 жыл бұрын

    Thanks. Very informative :)

  • @siphesihlenala5731
    @siphesihlenala57312 жыл бұрын

    Amazing video, thank you very much

  • @maggiesaidi7958
    @maggiesaidi79584 жыл бұрын

    Thank you so much

  • @sixpence319
    @sixpence3199 жыл бұрын

    Can you do another video please to see how market STP (Segmentation, Targeting and Positioning) is all integrated into one. And another are of the 4C's. Thanks in advance. Your videos are excellent. I think you did an excellent job especially when it's coming from someone (me) who knows almost to nothing about marketing. Thanks. Ciao!

  • @tausifmulla3303
    @tausifmulla33037 жыл бұрын

    I am a marketing lecturer and I like the way you explain the concepts. May I know what software do you use to make these videos? And do you use Apple Pencil for writing these notes?

  • @aleef-5833
    @aleef-5833 Жыл бұрын

    man you're the besttttttt. thanks a lot

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    Жыл бұрын

    You’re too kind. 😊

  • @Alanisbusinessacademy
    @Alanisbusinessacademy10 жыл бұрын

    I'll give it a shot. Behavioral variables focus on how customers actually behavior towards products. These includes things such as usage rates, brand loyalty, or even the benefits that are being sought. With psychographic variables your focusing on things like lifestyle and interests, which tend to be good predictors of future purchasing behavior. For example, if I'm married with kids I may receive vacation offers or advertisements for mini-vans due to my lifestyle.

  • @kaosyezeani796
    @kaosyezeani79610 жыл бұрын

    This helped me a lot, God bless!

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    You're welcome! God bless.

  • @marijndejong3548
    @marijndejong35489 жыл бұрын

    Thank you a lot, now studying International Business Studies my Unit 3 is about segmentation. And I didn't know any thing about that, now I understand.

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    9 жыл бұрын

    Marijn de Jong Glad I could help! Good luck studying international business!

  • @ifeomaiwuno9941
    @ifeomaiwuno9941 Жыл бұрын

    Thank you, but how do I use market segmentation to get my main target market for poultry business.

  • @tricialynch966
    @tricialynch9665 жыл бұрын

    This information is very useful thank you.

  • @5042DaMeatShoww
    @5042DaMeatShoww7 жыл бұрын

    Great Content!

  • @lndrkrpr
    @lndrkrpr4 жыл бұрын

    Awesome video!

  • @brucelee8356
    @brucelee83569 жыл бұрын

    very clear explanation, thank you:)

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    9 жыл бұрын

    Habibullo Yusupov You're very welcome! Thanks for watching.

  • @dakotababyxx
    @dakotababyxx9 жыл бұрын

    thank you this was so helpful!!

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    9 жыл бұрын

    Dakotababyxx You're welcome! Glad you enjoyed it.

  • @nilsmarkusrye5889
    @nilsmarkusrye58892 жыл бұрын

    Great presentation! I was wondering how i could use this in for example when my product is frozen pizza. Everybody likes that right....

  • @pakal494
    @pakal4942 жыл бұрын

    Thank You

  • @joshuahobson-lane997
    @joshuahobson-lane9974 жыл бұрын

    Do you have any videos or can recommend any for customer segments ?

  • @user-jq5jx8nn5h
    @user-jq5jx8nn5h10 жыл бұрын

    Great Video! have a 15 min presentation due on market segmentation and this left me so much more to discuss than just basic segmentation on income, ethnicity, and education. It's funny how you do not even have to be face to face to teach better than some of my professors who just ramble on and on.

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    Thanks William! I'm glad that I could help. Good luck with your presentation.

  • @Alanisbusinessacademy
    @Alanisbusinessacademy9 жыл бұрын

    How do you define your target market? Discover how market segmentation can help you better describe your ideal customer. buff.ly/1GtrR0N

  • @KicheeAndMe
    @KicheeAndMe3 жыл бұрын

    Thanks alot. This is very useful

  • @clickprofileimage

    @clickprofileimage

    2 жыл бұрын

    Do you need help with your assignments? Email me.

  • @sergeidimitrov7058
    @sergeidimitrov70587 жыл бұрын

    Incredible!!!!!

  • @mrmickeyqtg
    @mrmickeyqtg10 жыл бұрын

    this is wonderful. it helped me to help my students better understand the concept..thanks, I appreciate it! students should watch this.

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    Glad to hear it was helpful! Thanks for watching, and the kind comment.

  • @janakrige7533
    @janakrige75334 жыл бұрын

    Great voice!

  • @josiedesir8712
    @josiedesir87124 жыл бұрын

    Is this part of the clep test multiple choice also

  • @pradeepniranekarniranekar7705
    @pradeepniranekarniranekar770510 жыл бұрын

    thanx for d guidance

  • @alfredeng8426
    @alfredeng84268 жыл бұрын

    Thanks alot man

  • @fabianbothen742
    @fabianbothen7427 жыл бұрын

    Awesome presentation. I was wondering if you may do, or if its already exist a presentation that is focusing on market segmentation and target marketing business to business as well! :)

  • @MitsubishiSabah
    @MitsubishiSabah10 жыл бұрын

    Best explanation, thanks

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    Thank you! Glad I could help.

  • @luismendoza9195
    @luismendoza91958 жыл бұрын

    Hello there, first of all, thanks for the video. Secondly, how do I cross data using a chart with more than 2 variables. Let's say that I have the percentage of the population that I want to target according to their age and also the percentage of the population that I want to target according to their income, how do I do to put that in to a graphic to see what's the behaviour of the population according to those two variables?, can I add as many variables as a I wish?

  • @chiragpatil8755
    @chiragpatil875510 жыл бұрын

    thanks a lots...examples given by are very practical and understanding...

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    That was my hope Chirag so thank you for the feedback.

  • @fiach999
    @fiach9999 жыл бұрын

    Hey man these tutorials really helped me coming up to exam time , any chance you do do one on consumer behaviour and seo for a company website ,

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    9 жыл бұрын

    fiach999 Thank you very much. The closest video to consumer behavior is the consumer buying process, which is episode 102. Good luck!

  • @merindaramage9292
    @merindaramage92929 жыл бұрын

    Great video- quick question what program do you use to make your videos? It was a new and interesting way to learn fro me.How can you write your notes and record your voice and then upload as a video? thanks :)

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    9 жыл бұрын

    ***** Thank you Merinda! I'm using Screenflow to capture the recording, Sketchbook Express to display the writing, and a Wacom Bamboo Tablet to perform the writing. Altogether probably around $220 worth of equipment/software. I have an entire course on Udemy that teaches students how to create videos exactly like this one. If you're interested, I've posted a link here: bit.ly/1CQXEJl Thanks for watching!

  • @sulimanelzoway707
    @sulimanelzoway70710 жыл бұрын

    nice lecture, i like management and i hope someday study it

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    10 жыл бұрын

    I appreciate that. Management is a very interesting topic. Good luck with your studies.

  • @matthewdavies408
    @matthewdavies4089 жыл бұрын

    I dont normally comment, this was great! Thanks

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    9 жыл бұрын

    matthew davies Thank you for taking the time to share that matthew. Good luck in the future.

  • @ladiakinbobola1940
    @ladiakinbobola19408 жыл бұрын

    Good presentation but I still need some clarification. Regarding the target market, do u select one of the segments (i.e geographic, demographics etc) as your target market or do you select a target market with a combination of characteristic/variables that fall under all the segments if necessary. E.g Target Market being : A male (gender) of 35 yrs and above (age) living in Florida (location) with an annual income of $50,000 (income) who loves going on boat cruises (lifestyle). As you can see, the target market is a combination of gender (demographic) + age (demographic) + location (geographic) + income (demographic) + lifestyle (psychographic). Am I making any sense?

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    8 жыл бұрын

    +Ladi Akinbobola I think I understand what you're saying. There's this interesting dynamic with developing a solid target market. On one hand you want to develop a narrow enough market so that you can develop more interested products for those individuals. On the other hand, you can't over-segment the market to where not enough people are included in your market. This will of course affect profitability. To answer your question more specifically, you're welcome to use any combination of characteristics as long as your customer shares those characteristics. Hope this helps!

  • @kiyokodate9878
    @kiyokodate98783 жыл бұрын

    How can we find a number or at least an estimate for the total market and the percentage of each niche segmentation?

  • @1990leslie
    @1990leslie3 жыл бұрын

    Funny how I've been using KZread to look at cat videos for decades, yet ironically we could all be learning entire fields of study down to performing surgeries and could probably replace formal education altogether if used in a proper way.

  • @Alanisbusinessacademy

    @Alanisbusinessacademy

    3 жыл бұрын

    Cat videos are fun though.

  • @clickprofileimage

    @clickprofileimage

    2 жыл бұрын

    Do you need help with your assignments? Email me.

  • @felerobert5024

    @felerobert5024

    Жыл бұрын

    I couldn't agree more

  • @nsondohamulondo3308
    @nsondohamulondo33085 жыл бұрын

    Good presentation

  • @Alanisbusinessacademy
    @Alanisbusinessacademy10 жыл бұрын

    You're welcome Shubhrans.