Target Market Segmentation is conducted by identifying and dividing a large market into clearly identifiable segments having similar needs, wants, or demand characteristics. The process involves identifying the specific needs and wants of customer groups, and then using those insights to divide the market into different segments. It's a strategy that allows a company to target these groups effectively and allocate marketing resources to best meet their needs. The main criteria used in segmentation include demographic, geographic, psychographic, and behavioral factors.
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