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Market segmentation is a way of aggregating prospective buyers into groups with common needs and who respond similarly to a marketing action.
Market segmentation is the practice of grouping customers together based on shared characteristics — including demographic information or common interests and needs. It’s a strategy for dividing a large, broader target audience into specific groups to create tailored and personalized marketing campaigns.
8 Types of Market Segmentation With Real-World Examples. Anastasia Belyh. Updated Dec 6, 2022. Contents. Different people have different needs, preferences and opinions. Even when you are selling the same product, this means that different people will have different reasons and different motivations for buying the same product.
Segmentation is the process of taking a broad market and breaking it into various groups (A.K.A. segments) according to specific characteristics, desires, or needs. Take a brewery for example, their broad target market consists of customers who want to drink good beer and eat pub style food.
Learn about the 4 types of market segmentation: demographic, psychographic, geographic, and behavioral & their benefits with examples from top brands.
Commonly used in marketing strategies, market segments help companies optimize their products, services, and advertising to suit the needs of a given segment and reach them with their offer.
Definition, 5 types, and examples. Anjana Rao Product and tech leader. Reader. Traveller. Author. Coach. Market segmentation is a vital component of any product marketing strategy. Without it, you may fail to address the diverse needs and pain points of your varied customers.