Targeting the Right Customer
You may find that you have multiple market segments. Maybe you sell your most profitable home theater systems to affluent empty nesters that have moved from the suburbs into townhouses closer to the city. Your biggest appliance sales may be to families in those same suburbs. Your lower-priced replacement video and appliances may be sold to families in less expensive neighborhoods.
How much difference is there from one neighborhood to the next? Entirely different demographics mean totally different buyers, but both groups need the products you sell.
And even if you think your target customer is just the wealthy, there are multiple segments in that group. MRI has developed the Upper Deck report, which segments affluent consumers into different lifestyle patterns: