MANAGEMENT

Detailed explanation-1: -A market segment is a group of people who share one or more similar characteristics. Corporations and marketing teams use various criteria to develop target markets for their products and services.

Detailed explanation-2: -What is meant by demographic and geographic segmentation? Demographic segmentation refers to the grouping of customers based on characteristics like age, sex, gender, race, or income level. Geographic segmentation divides customers into groups based on location like country, state, town, or climate.

Detailed explanation-3: -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.

Detailed explanation-4: -In marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on shared characteristics.