Question

discuss market segmentation criteria used by joan

Answer 1

Market segmentation is a marketing strategy used by companies to divide their customers into segments based on different factors such as demographic, psychographic etc. This is done in order to serve customers effectively and effectively and earn profit.

This strategy helps companies to decide which set of customers or market to serve and which set of customers will not be profitable and thus leave them.

The market segmentation criteria used by Joan is concentrated marketing as Joan provides services like meeting rooms to huddle spaces, conference rooms and board rooms and other such accessories used by the modern day corporate offices the company is serving a niche market.

It targets a small market of modern business organizations who require space and accessories to make their work easy.

The segmentation done by Joan is based on behavioural segmentation as it targets the customers who are looking for benefits of arranging their meetings and gatherings which is a distinct need and customers with such needs are very less.

With such marketing segmentation Joan will be able to use more effective and efficient marketing tools to attract customers and can also serve the needs of the customers in best possible way.