Building quality for market segments

Quality is a factor that everyone would like, but its delivery is often restricted by skills, time, resources and budget. The definition of quality is something that changes between different groups of people; another reason to identify market segments that share characteristics. Whether the buying criteria is based on money, time or another factor, your ability to be successful with the market segment comes down to whether you are positioned to profitably deliver the quality that its buyers expect.

Meeting customer needs

The key to delivering the right quality to market segments lies in understanding their needs. Offering a product or service with high quality on all factors may result in you pricing yourself out of the market, whereas offering a version of your product or service that has selected features of interest tailored to be appealing to defined audiences will mean that you are able to make a better impression amongst those who you target as well...