Although most dealers don’t perform formal market segmentation analysis, the vast majority understand and use some form of segmentation.
While there is value in a more formal practice, changes in consumer behavior are causing us to take a fresh look at the broader subject and rethink our approach to segmentation. Regardless of the dealership’s desire, or even tolerance for formal marketing practice, this new wave of change merits understanding. It brings opportunity and consequences to dealership website design and other communication challenges.
The formal study of market segmentation has been around since the 1950s. However, there is evidence that the practice of segmentation was being executed in some areas even 200 years ago.