Market segmentation is a way of dividing buyers into groups or segments, based on demographics, geography, behaviour or psychographic factors.
Image source: Google
Image source: Google
One of the objective of market segmentation is to reduce the risk by identifying which products have the chances of gaining a share of a target market.
Image source: Google
Image source: Google
Market segmentation is the best method to determine the best suitable method for delivery of the products into the market.
Image source: Google
Image source: Google
If a business sucessfully implements marketing segmentation campaigns it can increase the long-term profitability and wealth of a company.
Image source: Google
Image source: Google
Marketing segmentation approach allows businesses to promote products to a focused approach instead of trying to promote products to the entire market.
Image source: Google
Image source: Google
Market segmentation allows companies to deliver the exact message that they want to convey to the customers, market and competitors.
Image source: Google
Image source: Google
Market segmentation is based on the fact that not all customers have the same interests, consumer needs or purchasing power.
Image source: Google
Image source: Google
Market segmentation can encourage customers to buy products from a company again, or trade up from a lower-priced service or product.