Market segmentation for penetrating deeper into the contact lens market

Purpose – This paper aims to present the importance of market segmentation and how it can be used to strategize effectively to penetrate deeper into the contact lens market. Design/methodology/approach – Market segment is a group of consumers with common needs, priorities or characteristics. Each market segment is different, and a business must target these different market segments with different marketing strategies. This paper highlights the role of market segmentation in creating an ideal target segment for contact lens market and designing a unique strategy to reach the targeted segment. Findings – Adolescents or teenagers seem to be an ideal segment to penetrate deeper into the contact lens market and to realize immediate gains. A unique or different marketing strategy is required to target and occupy adolescents. Practical implications – Targeting adolescents, who form the most promising category to penetrate the market, with a unique marketing mix will likely increase profit, revenue and return of investment.