Market Segmentation for Optometry Products

A strong marketing strategy can be the only difference between a successful practice and a less competitive one. Marketers look to improve their marketing efforts’ effectiveness by using market segmentation. Market segmentation types can be geographic, demographic, cultural, behavioral, and psychographic. With market segmentation, marketers can target and communicate the right message to the right and exact group within an audience. Market segmentation enables targeted messaging.

Geographic segmentation addresses where a certain customer is within an area, a clutch of zip codes, or a neighborhood. You may want to refer to local newspapers, magazines, or even Facebook location-based targeted ads.

Demographic segmentation addresses who your target is. Who your target audience is? It depends on age, gender, level of education, position in a company, and income level. You may want to target high-level income customers with your latest special edition designer sunglasses.

Cultural and behavioral segmentation address what and how customers decide and are based on religion, values, ethnicities, rituals, and social perception.

Psychographic segmentation addresses why customers with specific personalities and traits, beliefs, heroes and celebrities attachment, lifestyles, and societal symbols buy certain products.

Through surveys, marketers can collect relevant information and data about the target audience and can employ secondary data, industry reports, and census from official organizations to understand how your audience compares or differs from the general population.

For example, if we are trying to introduce an innovative product to our market we can employ the technology adoption curve from Everett Rogers ( innovators, early adopters, early majority, late majority, and laggards) and compare it to its data from our target market. From industry reports, we can get information about the demographic, psychographic, and other information. By comparing our audience with the data about the adoption of an innovative product at the industry level we can specify which segment to target and develop the right message and try to convey it to them. This way we can target, benchmark with industry levels, improve communicated messages, and increase marketing efforts efficiency.