Market Segmentation

noun the action or business of promoting and selling products or services, including market research and advertising

• The company's marketing strategy focuses on targeting a specific demographic.
• They're really ramping up their marketing efforts to reach more customers.
• I heard their new marketing campaign is lit!
• Marketing is like planting seeds for future business growth.

noun a set of characteristics used to categorize and analyze businesses, such as industry, size, revenue, and location

• Firmographics is the study and classification of companies based on various attributes such as industry, size, and revenue.
• Firmographics helps businesses understand their target market better by providing detailed company information.
• Knowing the firmographics of your competitors can give you a competitive edge in the market.
• Just like demographics for individuals, firmographics provide valuable insights into the characteristics of businesses.

noun a social group with which an individual does not identify

adjective relating to or characteristic of a group to which one does not belong

• The study focused on the dynamics between the in-group and the out-group in the workplace.
• Sometimes it's hard to get along with people from the out-group.
• I don't really vibe with the out-group crowd.
• In the game of politics, it's important to know how to navigate alliances within and outside of your out-group.

noun A particular segment of the population identified as the focus of marketing efforts

• Our company's marketing strategy focuses on identifying and reaching our target market.
• We need to figure out who our target market is so we can sell more stuff.
• Let's hone in on the peeps who really dig our products, that's our target market.
• Just like a skilled archer aims for the bullseye, we must aim our products towards our target market for success.

noun a compound word combining 'socio' (related to society) and 'demographic' (related to population characteristics)

adjective describing characteristics of a population or society

• The sociodemographic data collected by the researchers provided valuable insights into the community's needs.
• The sociodemographic survey showed that most of the residents are in their thirties.
• I didn't realize how important sociodemographic factors were until I saw the stats.
• Understanding the sociodemographic makeup of the audience helped tailor the marketing campaign effectively.