MANAGEMENT

Detailed explanation-1: -Market segmentation is the process of dividing a broad population into subgroups according to certain shared factors. These groups may have common demographics (age, gender, etc.), geographic location, attitudes, behaviors, or a combination of similar characteristics. A consumer may belong to multiple market segments.

Detailed explanation-2: -Market segmentation is the process of dividing up mass markets into groups with similar needs and wants.

Detailed explanation-3: -Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics.

Detailed explanation-4: -Psychographic segmentation is dividing a market into different segments based on social class, lifestyle, or personality characteristics; and. Behavioral segmentation refers to dividing a market into segments based on consumer knowledge, attitude, uses, or responses to a product (Kotler & Armstrong, 2014, pp.

Detailed explanation-5: -Demographic, psychographic, behavioral and geographic segmentation are considered the four main types of market segmentation, but there are also many other strategies you can use, including numerous variations on the four main types.