635-3-2 Market Segmentation and Implementation

635-3-2 Market Segmentation and Implementation

Define market segmentation. What are the ideal business conditions for market segmentation to be implemented?

Market segmentation is the division of a market into small groups of buyers with similar characteristics such as needs, behaviors, product preferences, and financial status. The splitting of the market in different parts enables a business to better reach the targeted customers for their products (Debo, Toktay & VanWassenhove, 2005).
                                                Conditions for Market Segmentation

An effective marketing plan

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