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- Identifying market segments and targets involves the following steps12:
- Define your overall market.
- Set objectives for your market segmentation.
- Identify important variables.
- Assign variables to distinct market segments.
- Evaluate each segment for viability.
- Establish a detailed profile for each segment.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Market segmentation has several steps you need to follow: Identifying the market according to what they need and want. Analyse their usage pattern, likes and dislikes, lifestyle, and demographic. Note the growth potential of your market as well as your competition and the potential risk they may represent to your company.www.gopromotional.co.uk/blog/how-to-identify-mar…How to identify market segments
- 1. Define your overall market Define the scope of your company's market. ...
- 2. Set objectives for your market segmentation Determine what you want to achieve with the company's market segments. ...
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