Market segmentation by benefits sought definition

Benefit segmentation is a customer-centric approach to marketing that identifies and targets customers based on the perceived value of a product.

Benefit segmentation is used in a variety of industries, from food and beverage to automotive to retail.

By understanding what benefits different customer segments are looking for, successful businesses use differentiated marketingstrategies to create products that appeal to each segment making them more likely to be successful in the marketplace.

When done correctly, this targeted marketing approach has the potential to increase sales by increasing customer engagement and increasing conversion rates.

When combined with other types of segmentation, like Needs-based Segmentation, Price-based Segmentation or Occasion segmentation can truly drive growth in sales, profit and customer satisfaction.

In this article, we will discuss what benefit segmentation is, how it can help you target your customers more effectively and provide rea