MANAGEMENT

Detailed explanation-1: -Market segmentation is the process of dividing the market into subsets of customers who share common characteristics. The four pillars of segmentation marketers use to define their ideal customer profile (ICP) are demographic, psychographic, geographic and behavioral.

Detailed explanation-2: -Demographic segmentation divides the market into segments based on age, generations, life-cycle stage, gender, income, occupation, education, religion, ethnicity.

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 divides buyers into different segments based on internal characteristics-personality, values, beliefs, lifestyle, attitudes, interests, and social class-so you can market accordingly. It requires looking beyond customers as they pertain to your brand and seeing them as individuals.