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What is Importance of Market Segmentation about?
Market segmentation involves dividing consumers into groups based on characteristics like needs and wants. It allows businesses to develop targeted marketing strategies for each segment by understanding their preferences. Effective segmentation identifies the market, understands customer needs, ensures appropriate product features are promoted using relevant promotion methods, and has benefits like more effective marketing, identifying gaps, and increased sales and profits.
- Author
- hassan hani
- Language
- EN