MANAGEMENT

Detailed explanation-1: -Companies divide markets using characteristics such as age, gender, income, education, and family size to achieve demographic segmentation. Age and gender are the most commonly used demographic variables because they are often the easiest to identify.

Detailed explanation-2: -Segmentation helps marketers to be more efficient in terms of time, money and other resources. Market segmentation allows companies to learn about their customers. They gain a better understanding of customer’s needs and wants and therefore can tailor campaigns to customer segments most likely to purchase products.

Detailed explanation-3: -Market targeting: evaluating each segment’s attractiveness and selecting one or more of the market segments.