what is meant by segmentation and why is it undertaken by marketers?
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Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or locations.
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market segmentation is an identifiable sub-group of a whole market in which consumers have similar characteristics or preferences. It is undertaken by the marketers because they identify the right market for your products and then target your marketing more effectively.
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