what is segmentation
Answers
Answer:
♥️Segmentation♥️
Explanation:
Segmentation means to divide the marketplace into parts, or segments, which are definable, accessible, actionable, and profitable and have a growth potential. In other words, a company would find it impossible to target the entire market, because of time, cost and effort restrictions.
Answer:
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Explanation:
definition : Market segmentation is the activity of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers based on some type of shared characteristics.
example : common characteristics of a market segment include interests, lifestyle, age, gender, etc.
Types: geographic, demographic, psychographic, and behavioral.
The basis of the segmentation is age, sex, education, income, occupation, marital status, family size, family life cycle, religion, nationality and social class. All these variables are either used as a single factor or in combination to segment the market.
process : Segmentation refers to the process of creating small segments within a broad market to select the right target market for various brands. ... Once the organizations decide on their target market, they can easily formulate strategies and plans to make their brands popular amongst the consumers.