What is Market Segmentation & The Benefits
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Market Segmentation is the practice of dividing a target market into distinct groups of consumers with similar characteristics, needs, or behaviors, to tailor marketing strategies accordingly.
Why is Market Segmentation important?
Market Segmentation is important because it allows businesses to tailor their marketing strategies to specific groups of consumers, increasing the effectiveness and efficiency of their marketing efforts.
An easy way to understand Market Segmentation
Imagine dividing a large group of people into smaller groups based on things they have in common, like age or interests, so you can create marketing messages that are more relevant and appealing to each group.