What are the best practices for product placement and pricing using customer segmentation?
If you work in merchandising, you know how important it is to display and price your products in a way that appeals to your target customers. But how do you know who your customers are, what they want, and how much they are willing to pay? That's where customer segmentation comes in. Customer segmentation is the process of dividing your market into groups of people who share similar characteristics, needs, preferences, and behaviors. By using customer segmentation, you can tailor your product placement and pricing strategies to match the expectations and motivations of each segment, and increase your sales and profits. In this article, we will explore some of the best practices for product placement and pricing using customer segmentation.