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    Market segmentation involves dividing the market into groups based on needs, preferences, and characteristics to allow businesses to tailor their marketing to specific consumer groups and increase campaign effectiveness. Segmentation can be based on demographics like age, gender, income, location, as well as psychographics like values and attitudes, though balancing costs of targeting segments against returns is challenging.

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    Market segmentation involves dividing the market into groups based on needs, preferences, and characteristics to allow businesses to tailor their marketing to specific consumer groups and increase campaign effectiveness. Segmentation can be based on demographics like age, gender, income, location, as well as psychographics like values and attitudes, though balancing costs of targeting segments against returns is challenging.

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    6 views1 page

    Untitled

    Uploaded by

    Vishal
    Market segmentation involves dividing the market into groups based on needs, preferences, and characteristics to allow businesses to tailor their marketing to specific consumer groups and increase campaign effectiveness. Segmentation can be based on demographics like age, gender, income, location, as well as psychographics like values and attitudes, though balancing costs of targeting segments against returns is challenging.

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    The concept of market segmentation involves dividing a market into different groups of consumers

    based on their needs, preferences, and characteristics. This allows businesses to tailor their marketing
    efforts to specific groups of consumers and increase the effectiveness of their marketing campaigns.
    Market segmentation can be based on a wide range of factors, including age, gender, income,
    geographic location, and psychographic variables such as values and attitudes. However, there are also
    challenges associated with market segmentation, such as the need to balance the costs of marketing to
    different segments with the potential returns on investment.

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