Understanding Market Segmentation Targeting

Running head: UNDERSTANDING MARKET SEGMENTATION AND THE TARGETING
Understanding Market Segmentation and the Targeting
(SnapCap)
Name of the student:
Name of the university:
Author Note

UNDERSTANDING MARKET SEGMENTATION AND THE TARGETING
1
Understanding target marketing at SnapCap:
Introduction to the chosen company:
SnapCap is a business that is committed towards the rise of small business success towards
credit following a B2B or Business to Business Model. Working with alternative lender is scary
since this is the new idea at that industry. It is the reason why there are fully dedicated towards
confidentiality and delivering of secure and fast lending processes. They are born out of the financial
crisis and opened doors official during 2012 ("Business Lending Redefined Achieve Great Things
With SnapCap", 2019). Further, they are the helping to lead revolution under hybrid finance. Thus
they can concentrate less on the credit score of the business owner and much more on the entire
business health. They are developed on the easy concept that any sort of lending never need to be
complex or based on one number. They let the clients understand properly where they stand for the
point they begin any application to the time one receive funds. The needs of business landings must
be personal that works as catalyst behind their business.
Examples of SnapCap’s products and activities supporting the business model:
Providing for small business loan is expensive and confusing measure as one move to the
wring lender. They concentrate to facilitate the quickest loan decisions at lesser rates having the
minimum quantity of hassle. Their team is equipped with the most effective financial technology
regarding alternative lending such they are equipped for serving better. The owners of business
require more than only fast lean decision with competitive rate. Moreover, they stand out of the
competition through delivering the business owners with the relationship they depend on at present
at for future ("Shop millions of handmade and vintage items on the world’s most imaginative
marketplace", 2019).

UNDERSTANDING MARKET SEGMENTATION AND THE TARGETING
2
Explaining different bases for segmenting the consumer markets:
They are discussed below.
Demographic
segmentation
It distinguishes the market to groups on the bass of variable like
nationality, race, religion, education, occupation, income, family size,
age and gender. Additionally, it is simpler to calculate than the other
kind of variables.
Geographic
segmentation
It indicates to divide markets to distinct geographical units like
neighborhoods, cities regions, states and nations.
Psychographic
segmentation
It pertains to personality traits and lifestyles. At specific products, the
behavior of buying predominantly relies on personality characteristic
and lifestyles.
Behavioral
Segmentation
Here, the buyers are distinguished to different groups as per
knowledge, the distinct attitude towards, various usages of and further
responses to products. This involves the segmentations according to
user status, loyalty status of distinct usage rates, occasions, attitude and
stage of buyer-readiness (Keegan, 2017).
Bases for Segmenting Consumer Market at SnapCap:
Here, Behavioral Segmentation is used. The ways the segmenting options are achieved for
SnapCap is discussed hereafter. The segmentation of consumers through which various products
owned by the clients does little to help SnapCap improve their marketing effectiveness. The tracking
of the consumer engagement with economic lives are effective predictor of the growth of customer
relationship and the referral behavior. This helps SnapCap to develop the focus and relevance of the
marketing communications (LendingTree, 2019).