The firm can tailor its marketing plans and programmes according to the needs of the market. When a company has identified specific market segments it helps them to focus on what segments.
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Better serve a customer s needs and wants.
Importance of segmentation in marketing. Having defined segments enables companies to satisfy a variety of customer. It can design the right product and services that really matter market demand. Behavioural based on intensity of.
What types of market segments can a company have. Geographic based on land rural or metropolitan area. Psychographic based on social status lifestyle type personality type.
The company s financial managerial and human resources can. Demographic based on age gender income occupation education nationality. Some other important benefits of market segmentation are as follows.
What are the benefits of market segmentation. Segmenting your target audience correctly is also the most efficient way to increase your revenue. Market segmentation can help you get the most out of your marketing efforts as it allows you to direct your resources at the right audience with the right message.
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