MARKETING STRATEGIES FOR SEGMENTATION AND TARGET MARKET SELECTION

Abstract

The purpose of the study is to characterize the essence of marketing strategies for segmentation and selection of the target market. It has been proven that the essence of enterprise marketing strategies lies in their ability to connect the company's products or services with the right customers to achieve sustainable growth and profitability. The essential properties of the target market selection process are determined. It has been established that the essence of marketing strategy and target market selection in enterprises is to create a strong connection between what the business offers and the needs of a specific group of consumers. Segmentation marketing strategies have been determined to be critical in today's diverse and competitive business environment, primarily because they enable businesses to identify and serve specific groups in the broader market. It is highlighted that segmentation consists of dividing the market into separate subgroups of consumers who have similar needs, characteristics or behavior. This strategy is critical because it moves businesses away from a one-size-fits-all approach, allowing for more targeted and effective marketing efforts. Modern marketing strategies focused on segmentation and target market selection have been proven to offer many benefits and are critical to the success of businesses in today's complex business environment. In today's era of digital platform dominance, segmentation and target market selection have been proven to be vital to effectively navigate the online space. These strategies help create digital marketing campaigns that are more likely to reach your target audience across platforms, from social media to email marketing. Companies can allocate their budgets more effectively, ensuring that marketing efforts reach the most receptive audiences, thereby increasing the return on investment.