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Sales & Marketing Development Solutions
Market Segmentation Solutions – defining your customers’ needs
Market Segmentation involves dividing a large market or customer list into niches – groups of customers with similar needs. Target marketing (also called niche marketing) is simply the strategies used to reach the niches.
The key to succeeding in niche marketing for small and mid-sized manufacturers is “Keeping it Simple.” Market Segmentation is a matter of insight, instinct and judgment. It’s very much a mindset of evaluating different customer types and needs. A good portion of it is intuitive, based on experience with the customer and common sense.
Many small manufacturers who are successful niche marketers realize they have to do it and do it well in order to survive. Many small manufacturers define their customers by SIC codes, sales volume, company size, and or even geography. The benefit is to focus limited resources in areas that will give you the biggest return.
WMS can help you with Market Segmentation, finding new markets and expanding your customer base. Contact us today to find out how.
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Learn more about how Washington Manufacturing Services has helped more than 1,000 companies solve their toughest business problems. Read success stories.
