Defining Your Market Segment

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Your market can be sliced and diced in multiple ways to create a market segment.

You can identify:
• a specific geographic (neighborhood in your city, urban vs. rural, proximity to hospital, education, commercial area).
• a specific demographic (age, income, family size, career).
• a specific feature (country living, low maintenance, sustainable energy, square footage, handicap accessibility).
• a blend of any of these specifics.
This survey will help you to consider the most favorable segment on which to focus your marketing efforts.

DEFINING YOUR MARKET SEGMENT

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Drilling down on your market segment


List five potential market segments you are considering and why you view each of these as a marketing opportunity.

Select the three most promising market segments from the list above. Consider the size of the segment and the capabilities of your company to explain why you think each segment would be a good match for your company.


Other Considerations

The choice of a market segment is not made solely on the basis of your internal strengths. You also have to consider external factors that effect your relationship with your market segment.

For each of the three market segments listed above, identify the most prominent competitor(s).

Rank the three market segments above in terms of total annual segment sales.


Choose ONE market segment

Select the ONE market segment which you think offers the most opportunity for your construction company. This is the segment on which you will focus your marketing efforts. Selecting one market segment does not preclude selling to other market segments, but those segments will be considered "flanker" segments to your primary focus. The flanker segments may ultimately represent significant sales opportunities.


What is it going to take to OWN that market segment?


What are the first three steps in your marketing effort?

Thanks for completing this survey in the FOUNDATION series. Be sure to request a copy of the survey for your records, as Builder Academy does not retain this information.