MANAGEMENT

Detailed explanation-1: -Market segmentation is a process of dividing a population into groups that share common characteristics. A target market is a specific audience that a company wants to reach with its products or services.

Detailed explanation-2: -Target marketing segmentation is where you divide your potential customers into segments. You’ll then focus on a few segments (or groups of people) that align most with your product or services. Doing so helps you tap into their needs and desires to attract new sales and increase longevity.

Detailed explanation-3: -Market segmentation and targeting refer to the process of identifying a company’s potential customers, choosing the customers to pursue, and creating value for the targeted customers. It is achieved through the segmentation, targeting, and positioning (STP) process.