Discus the “Key Market Segments for Effective Targeting”[ updated 2023]

Segmentation and Target Market Analysis

What one key market segment will you target?

Explain why you have selected it and quantify it.

For example, how many people are in this segment?

Determine market size (if not in situational analysis) and target market size.

What percentage will use/ buy your product or service?

Give your target segment a name and develop an in-depth profile of the characteristics of the people in it, including a discussion of their consumer buying behavior. Ensure you reference your sources.

If doing this for commercialization all target markets and sizes would need to be identified,
2) Positioning

Create a one or two sentence positioning statement. This positioning statement develops your brand and what image you want for your product in the consumers mind.

Remember create a positioning statement for your brand that separates it from competitors in the mind of your target market. In this section clearly define your target market and your products

point of difference from existing competitors and what your competitive advantage is.

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