Identify market segments

This standard is about identifying market segments. You research the motivations, attitudes and behaviours of customers and use the outcomes to identify distinct clusters of customers. You identify measurable market segments then propose and test ideas to evaluate their potential stability, accessibility and profitability. You also make recommendations linked to return on investment (ROI) for the organisation. The standard is for marketing professionals who identify market segments.

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1. prepare for researching the motivations, attitudes and behaviours of customers
2. identify the motivations, attitudes and behaviours of customers through research
3. identify distinct clusters of customers based on motivations, attitudes and behaviours
4. create a profile of established clusters to identify their distinguishing characteristics
5. identify market segments that are measurable in terms of size, buying power and profile
6. propose test plans for market segments
7. test ideas for market segments in accordance with the test plan
8. assess the viability of identified market segments, considering their potential profitability, stability and accessibility
9. recommend target segments that are likely to achieve the required returns on investment (ROI) for the organisation to decision makers
10. consult stakeholders on recommendations
11. amend recommendations in accordance with feedback
12. follow current legal, regulatory and ethical requirements, codes of practice and organisational policies and procedures when identifying market segments

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1. how to prepare to conduct marketing research covering the motivations, attitudes and behaviours of customers
2. the importance and value of market segmentation when developing marketing strategy
3. what constitutes a market segment and how this differs from customer classification
4. the characteristics that might be relevant to establishing potential market segments
5. how to conduct research into customer motivations, attitudes and behaviours from which valid and reliable conclusions can be drawn
6. the factors that make market segments distinct and the reasons for determining distinctive segments
7. how to develop test plans to trial ideas with market segments
8. the different factors to consider in assessing the viability of identified market segments
9. how to forecast potential returns on investment (ROI) for target market segments
10. the mechanisms used to consult with stakeholders on your recommendations
11. how to amend recommendations taking account the feedback you have received
12. the current legal, regulatory and ethical requirements, codes of practice and organisational policies and procedures when identifying market segments

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1

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01 Mar 2026

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Current

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Original

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Instructus

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CFAMAR17

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Marketing and Sales, Marketing and Sales Managers, Marketing Associate, Marketing Associate Professionals, Marketing Officer

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3554

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Marketing, sales, marketing management, market research, advertising, public relations

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