BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Market segmentation seeks to identify targeted groups of consumers to tailor products and branding in a way that is attractive to the group. Markets can be segmented in several ways such as geographically, demographically, or behaviorally.

Detailed explanation-2: -Customer Segmentation FAQ By segmenting customers into different classes, businesses can better understand their needs, preferences, and buying patterns, allowing them to create more personalized and effective marketing campaigns.

Detailed explanation-3: -Market segmentation focuses on reaching out to a limited number of the targeted audience to give more personalized content to each segment and to make marketing more efficient and successful.

Detailed explanation-4: -It is the process of dividing the target market into smaller groups. These segments enable companies to get a better understanding of their target audience. They can be segmented on similar characteristics such as interests, needs, location, demographics, priorities, and personality traits.

Detailed explanation-5: -The importance of market segmentation is that it allows a business to precisely reach a consumer with specific needs and wants. In the long run, this benefits the company because they are able to use their corporate resources more effectively and make better strategic marketing decisions.