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What is Importance of Market Segmentation about?

1. Companies segment markets to create customized marketing mixes for specific groups based on needs and wants, rather than exhausting budgets advertising to all. This allows a business to precisely target consumers and use resources more effectively. 2. The process of market segmentation involves identifying the total market, choosing segmentation criteria like demographics or psychographics, profiling segments, and selecting segments to target based on factors like size, profit potential, and ability to

Author

Ema

Language

EN