When the size, purchasing power, and profiles of a market segment can be determined, the market segment is said to be measurable.
When the size, purchasing power, and profiles of a market segment can be determined, the market segment is said to be measurable. This means that the characteristics and attributes of the segment can be quantified and analyzed.
For example, if a market segment consists of individuals between the ages of 18 and 25 with a specific income range,their size, purchasing power, and profiles can be measured to understand their potential as customers.
Being able to measure a market segment is crucial for businesses as it helps them identify the right target audience and develop effective marketing strategies.