Asked by Emily Schreurs on Jul 03, 2024
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What is the primary purpose of market segmentation? What characteristics should segments possess for a firm to make a profit?
Market Segmentation
The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors that might require separate products or marketing strategies.
Segments Possess
Refers to the characteristics or attributes that define different market or consumer segments within a broader market, allowing companies to tailor their offerings more precisely.
- Comprehend the purpose and essential criteria of effective market segmentation, including profitability.
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Learning Objectives
- Comprehend the purpose and essential criteria of effective market segmentation, including profitability.
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