Market segmentation is vital for any business that wants to maintain a good, positive relationship with its customers. Segmentation basically involves a company breaking down potential target markets into distinct groups. This may be based on age, location, household income or even gender.
There are a number of benefits involved with adopting this strategy in … Read more
• Organisation get to know its customers better
• Provides guidelines for resource allocation
• It helps focus the strategy of the organization
It is particularly important for small businesses, which often lack the resources to target large aggregate markets or to maintain a wide range of differentiated products for varied markets. Market segmentation allows … Read more