How to Identify Your Business Opportunity

How to identify your business opportunity

Segmentation and Positioning Strategy

Market Segmentation

Market segmentation is needed before we positioning our product as markets consist of buyers, and buyers are differ in one or more ways. Before that, we need to understand what are consumers’ needs nowadays and what is terms of the product can satisfy their needs. Thus, we can better reach our goal by breaking down the majority of consumers into group who differ in their response to our product such that customer needs can be served more efficiently and effectively.

As example, the market for a health image biscuit is segmented based on the demographic base which is divided into six relatively distinct segments which are ageing from 5 to 15, 16 to 26, 27 to 37,38 to 48,49 to 59 and 60 to 70 years old. People made up activities in the market. Such method is used as we believe that almost everybody in the world also eats biscuits. Furthermore, people in different age stage and life-cycle may have different requirements for food in the ways of light or heavy taste, nutrition and etc. After doing several researches, the product is seem to be more likely gains it market in the segments of age range from 16-26,age range from 27-37 and also age range from 38-48. To know more in-depth about how these segmentations are identified, is going to target its markets.

TARGETING MARKET SEGMENT

After evaluating different segments, three main segments are targeted. Each set of buyers in the particular target market always share common needs or characteristics.Our marketing efforts will focus on the following groups of people:

(1) Age range 27-37

This is the largest market for us. They are from generation Y and majority of them are white collar, more professional and better-educated population. Examples are teachers, doctors, engineers and etc. They have the highest health awareness among our target markets. In their working days, they are normally having their...