Market Segmentation

Definition: Market Segmentation is a marketing approach that involves dividing a target market into subsets of markets, each consisting of consumers with common needs or common applications for the relevant goods and services.
These subsets may be divided by criteria such as age, gender or other characteristics, such as region or income.
After MS is done, advertizing campaigns and other marketing techniques can then be implemented to target the specific customer segments.

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More on segmentation: Behavioral Segmentation, Concentrated Marketing, Differentiated Marketing, Industrial Segmentation, Market Targeting, more...

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