IMPLEMENTATION OF MARKET SEGMENTATION DETERMINATION IN THE CANVAS BUSINESS MODEL IN ZAFAS KNITTING HANDICRAFT BUSINESS IN MEDAN CITY

Alya Assyifa, Bilqis Syahputri, Fattakhul Rizky Dinda, Ummu Zainab, Isra Hayati

Abstract


This study aims to analyze the implementation of market segmentation in the context of Business Model Canvas (BMC) in Zafas handicraft business located in Medan City. Market segmentation is an important element in BMC that helps businesses to understand and target customers effectively. In this study, qualitative methods were used to collect data through in-depth interviews with business owners and analysis of related documents. The results showed that Zafas has successfully identified two main market segments: local consumers looking for artistic handicraft products and tourists who are interested in regional handicraft products. Determining this market segmentation plays a crucial role in determining marketing strategies, resource allocation, and product adjustments. This study provides practical insights for handicraft entrepreneurs in Medan and its surroundings in optimizing their business models by determining the right market segments, so as to increase business competitiveness and sustainability.


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DOI: https://doi.org/10.3059/insis.v0i0.23502

DOI (PDF): https://doi.org/10.3059/insis.v0i0.23502.g12913

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