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Explain the term market segmentation.

      

Explain the term market segmentation.

  

Answers


Lydia
Market segmentation is dividing the total market for a product or service into different groups that have similar wants and desires, example. age, income

or

Market segmentation means dividing a market into distinct groups of buyers with different
needs, characteristics or behaviours, who might require separate products or marketing mixes.
The company identifies different ways to segment the market and develops profiles of the
resulting market segments. It is a marketing term referring to the aggregating of prospective
buyers into groups, or segments, which have common needs and respond similarly to a
marketing action. Market segmentation enables companies to target different categories of
consumers who perceive the full value of certain products and services differently from one
another.
lydiajane74 answered the question on July 22, 2018 at 19:53


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