Marketing segmentation is a group of consumers who share similar characteristics, such as demographics, behavior, and needs. Market segmentation is the process of dividing a market into smaller groups of consumers with similar characteristics in order to better understand and target specific groups.
This allows marketers to create more effective and efficient marketing strategies by tailoring their messaging, products, and services to the specific needs and wants of each segment.
Market segments can be based on a variety of factors, including age, income, location, lifestyle, and purchasing behavior.
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