MANAGEMENT

Detailed explanation-1: -Market segmentation is a marketing strategy in which select groups of consumers are identified so that certain products or product lines can be presented to them in a way that appeals to their interests.

Detailed explanation-2: -Dividing a target market into segments means grouping the population according to the key characteristics that drive their spending decisions. Some of these are gender, age, income level, race, education level, religion, marital status, and geographic location.

Detailed explanation-3: -Common examples of market segmentation include geographic, demographic, psychographic, and behavioral. Companies that understand market segments can prove themselves to be effective marketers while earning a greater return on their investments.