THE IMPACT OF MARKET SEGMENTATION ON SALES STRATEGIES
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THE IMPACT OF MARKET SEGMENTATION ON SALES STRATEGIES
This study examines the impact of market segmentation on sales strategies. Objectives include: (1) evaluating the effectiveness of segmentation in targeting specific customer groups, (2) analyzing the impact of segmentation on sales performance, and (3) identifying the most effective segmentation criteria. A survey design is employed to gather data from a broad population. Using Taro Yamane's formula, a sample size of 330 is derived, ensuring representativeness. The case study focuses on the consumer electronics industry in Lagos, Nigeria. The reliability coefficient score is 0.85, indicating high reliability. Findings show that effective market segmentation significantly enhances sales strategies, with demographic and psychographic criteria being the most effective. Recommendations include regularly updating segmentation criteria to reflect changing market conditions and customer preferences.
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