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Market Segmentation

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❶At its simplest it involves finding groups with different preferences and different levels of willingness to pay and creating products and offers that target these different groups - better matching what your offer against what the market will pay for. A generation is defined as "a cohort of people born within a similar span of time 15 years at the upper end who share a comparable age and life stage and who were shaped by a particular span of time events, trends, and developments.

Types of market segmentation




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Market segmentation is a process by which market researchers identify key attributes about customers and potential consumers that can be used to create distinct target market groups. Learn what you need to know about using market segmentation in .

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Market research analysis using segmentation is a basic component of any marketing effort. It provides a basis upon which business decision makers maximize profitability by focusing their company’s efforts and resources on those market segments most favorable to .

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Market segmentation is a technique for using market research in order to learn all you can about your customers. The purpose of market segmentation is not just to sell products and services, but to inform research and development. Market segmentation. Segmentation is concerned with identifying different groups of purchasers in a market in order to target specific products and services for each group or .

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Psychographic segmentation is a legitimate way to segment a market, if we can identify the proper segmentation variables (or lifestyle statements, words, pictures, etc.). Qualitative research techniques (focus groups, depth interviews, ethnography) become invaluable at this stage. Market segmentation creates subsets of a market based on demographics, needs, priorities, common interests, and other psychographic or behavioral criteria used to better understand the target audience.