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The goal of a marketing research strategy is to effectively find a way to solve customers' problems in a way that is still profitable. That is why marketing research is crucial not only for the development of a business, but also in fostering future business successes.

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At MarketingProfs, our goal is to provide you with the information and know-how you need to successfully compete in your business.

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As many businesses have discovered, niche marketing can be the key to creating a successful business platform. As the marketplace continues to expand and become increasingly more competitive, so does the demand for specialized products and services.

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For businesses to grow and remain profitable, they need to maintain customers while reaching out to new demographics. To do this, a businesses needs to be able to evolve and innovate more quickly than their competitors.

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Whether you are a featherweight or a heavyweight boxer, you must approach your opponent in the same way: prepared. You learn about your opponent's strengths and weaknesses before you step into the ring.

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Before getting into how one can think about the various ways to practically segment a market, let's first consider some key issues and questions ...

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So what are the bases for segmentation? While it is difficult to determine what will segment a market into different segments based on different benefit tradeoffs, there are some useful ways of thinking about how this might be done.

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