Categories of customer attributes
Customer attributes can be grouped as demographic, psychographic, geographic, or behavior.
Customer segments are the groups of people a business aims to serve.
Serving them effectively is key to building a successful business.
A Mass market segment has customers that can all be treated the same because they all have similar needs.
A Niche market segment is a specific subset of the market that is targeted using marketing and products/services that are heavily tailored to them.
A Segmented market segment has several types of customers that use the same or similar product/service in different ways.
Diversified market segments are separate market segments with different marketing and products/services. Companies typically move into diversified market segments after scaling their first market segment.
Multisided market segments are market segments where the user segments are dependent upon each other to receive value.
Customer segmentation is often done using attributes. There are four categories of customer attributes that are used for segmentation.
To differentiate customers between segments, consider these three factors: :—:
Homogeneity: The customer attributes that are similarities among customers in the segment.
Distinction: The customer attributes that are differentiators between customers in this and other segments.
Reaction: Customers within a segment x1respond to the same marketing and offers.
Define the Customer archetypes and Customer acquisition strategy for each archetype.
Customer attributes can be grouped as demographic, psychographic, geographic, or behavior.
The way(s) a product or service benefits its target customers and the statement describing it.
A modern alternative to a business plan. It has 9 sections with details of the business, its customers, and how it provides value.
Group consumers into segments, determine which to target, and estable the product's position for them.