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What Is Market Segmentation?

Market segmentation is the process of dividing a larger market into smaller groups of consumers who share similar needs, characteristics, behaviors, or preferences. Market segmentation aims better to understand the needs and wants of different consumer groups so businesses can tailor their marketing strategies, products, and services to meet those needs and wants better.

The process of market segmentation typically involves gathering and analyzing data to identify patterns and trends among different consumer groups. This data may include demographic information, such as age, gender, income, education, and location, as well as psychographic information, such as attitudes, values, and interests. Once these groups are identified, businesses can develop targeted marketing campaigns that address each group's unique needs and wants rather than trying to appeal to a broad audience.

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Below, we have listed some of the common Market Segmentation assignment topics asked by students. These topics are:

Mass Marketing Market Segmentation Geographic Segmentation
Demographic Segmentation Geodemographic Segmentation Psychographic Segmentation
Behavioral Segmentation Market Targeting Customization Strategy
Targeting Considerations Positioning Concentration Strategy

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