Market Segmentation Clarified

Market Segmentation Clarified: Market segmentation is the process of dividing a broad consumer or business market, typically consisting of existing and potential customers, into sub-groups of consumers based on some type of shared characteristics. Segmentation can be based on demographics, psychographics, behavior, and geographical factors. This process allows businesses to tailor their marketing efforts more effectively, targeting specific groups with customized products, services, and messaging.