Once upon a time there were two soft drink companies. With the names Coca-Cola and Pepsi Cola, each tried with all its might to lure consumers to drink its product.
A more contemporary name for segmentation in today’s business environment is niche marketing.
Why is segmentation or niche marketing important to small businesses? If you were Wal-Mart, you could conceivably be all things to all people.
But as a small business, can you afford to serve the needs of everyone? What are some other reasons to focus on niche marketing?
1. Inventory costs
2. Availability
3. Customer service
4. Separation
5. Creativity
To read more about each reason, go here.
Photo by MSDesigns.
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