Segmentation, like cooking, is an art. Every analyst, like every cook, has a different recipe. The quality of the result is in how well it satisfies. In this column, I will discuss three reasons why segmentation efforts often fail to satisfy.
The ultimate objective of market segmentation is to provide a framework for the organization to make more money. In order to fulfill this objective, a good segmentation must be understandable, relevant and actionable. Over the years, I have encountered many segmentation projects that failed because they did not adhere to these criteria.
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