2nd Bac - Design and Field Research (Market Segmentation)

Selection of the Product for the Entrepreneurship

The selection of the product is generally determined by a personal interest, the intention help solve a problem and the positive impact it can have on the society and the environment. To select a product, it is necessary for the entrepreneur to have data and information from magazines, government statistics, university libraries; the entrepreneur can also interview people that have knowledge on the products that are thinking to choose.


Market Segmentation

Companies or businesses seek to satisfy the needs and desires of a group of consumers, which is called target market. Selecting the target market is a delicate task, since its location is within a large, indeterminate group of consumers


The Market, is the biggest group of people with varied tastes and preferences. For example, everyone who consumes drinks. 

The Segment, is a smaller part of the market. For example, everyone who consumes dark drinks. 

The Target Market, is the group of people who the entrepreneur wants to reach. For example, people in downtown Ambato, who consume dark drinks in a can. 



The process to determine the real consumers of a product is called market segmentation. Selecting the target market requires a deep study, this is the most important task of a business. The success of the sales depends, to a large degree, understand what each possible buyer wants to integrate to the market and convert him into a regular customer. 

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