2.2 Market Segmentation Analysis
The target market of Coral Ridge Podiatry can be divided into three segments when analyzed from different perspectives such as consumers, distribution, and business-to-business. The consumer market represents the largest segment since Coral Ridge Podiatry is a service-based business. Consumer Coral Ridge Podiatry’s consumers can be segmented taking into consideration its psychographic characteristics and the benefits they expect from Coral Ridge services. The common attribute of all consumers in this segment is the desire to achieve a healthier, younger, better-looking and comfortable feeling about their feet. In addition, Coral Ridge Podiatry consumers are successful, educated, health conscious, and forward thinking individuals with a continuous desired to better themselves. Distribution The distribution segment represents a unique opportunity for the development of the Solecare™ Franchise. Through the distribution of the Solecare™ Franchise to the desired segment, Coral Ridge Podiatry would be benefiting from an extra source of income. The Solecare™ strategy will focus on the distribution of the business model, product line, and equipment to different podiatry practices around the country. This segment will be characterized by well-established podiatry practices with professional and skilled personnel, driven by success and exceptional service. Business-to-Business Coral Ridge Podiatry can identify its business-to-business market segmentation considering the type of business, the geographical location, and customer value of its partners. This segment consists of businesses related to the health, fitness, and well-being industry.
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