Strategy Matters: A Simple 7-Step Process To Go From Struggle To Success by Robert Stover

Author:Robert Stover
Language: eng
Format: mobi
Tags: Business strategy
Publisher: Timber Cove Press
Published: 2011-08-09T16:00:00+00:00

SEGMENTS

Next to profit, the biggest purpose of a business is to serve customers. So, here we take a look at your customers and the major segments they fall into.

It is critical that you move beyond thinking of customers generically and begin thinking of them in segments.

Why?

Three reasons:

One, not all customers are created equal.

Some customers are far more valuable to the future of your business than others.

In fact, your choice of customer segments is one of the most important decisions you make in crafting a strategy.

Two, major growth and innovation come from thinking about your customer segments in fresh ways.

Three, markets tend to break into smaller and smaller segments as competitors look for ways to win. You need to be aware of how your market is breaking up—and how your competitors may be winning in these new segments.

So, in this step of the scan you list your major customer segments and analyze which are most valuable to your business.

There are hundreds of ways to segment your customers. Here’s a few to get you started thinking.

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