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Chapter 3. Retailing Secrets: Tips from ... > Identifying Key Target Customer Segm...

Identifying Key Target Customer Segments

In order to truly understand the customer, it's important to determine who you're targeting, their characteristics and demographics, their relative value to your business, and what they need and want to purchase. Even more important to know is why they are purchasing an item. Their root motives can help you organize your store in more relevant ways and can give you more context for cross-selling. Several segments may be relevant to your business; however, it's important to focus on only a few. Trying to be everything to everyone usually results in being mediocre to most.

Customers may be segmented on a variety of parameters as discussed in detail in Chapter 2. Usually, retailers know if a customer is a home consumer, a small business, or a corporate entity. They also may be segmented geographically by zip code.


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