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What is market segmentation?

❶When a company focuses only on the profile of current customers they miss out on larger opportunities to attract customers that might be a better fit.

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Market Segmentation. The division of a market into different homogeneous groups of consumers is known as market segmentation.. Rather than offer the same marketing mix to vastly different customers, market segmentation makes it possible for firms to tailor the marketing mix for specific target markets, thus better satisfying customer needs. Not all elements of the marketing .

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Marketing > Segmentation. Market Segmentation. Market segmentation is the identification of portions of the market that are different from one another. Segmentation allows the firm to better satisfy the needs of its potential customers.

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Market segmentation assumes that different market segments require different marketing programs – that is, different offers, prices, promotion, distribution or some combination of marketing variables. Customer Segmentation is the subdivision of a market into discrete customer groups that share similar characteristics. Customer Segmentation can be a powerful means to identify unmet customer needs. Companies that identify underserved segments can then outperform the competition by developing.

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Customer segmentation is the practice of dividing a customer base into groups of individuals that are similar in specific ways relevant to marketing, such as age, gender, interests and spending habits. Customer segmentation, also called consumer segmentation or client segmentation, procedures. Customer segmentation enables businesses to create messages that will resonate deeply with particular audiences by dividing consumers into niche groups.