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- Market segmentation is useful because it allows companies to1234:
- Pinpoint the exact message they want to convey to the market and to competitors.
- Create product differentiation by communicating specifically how a company is different from its competitors.
- Determine exactly what messaging will drive customers to make purchases.
- Manage their time and money, among other resources, in a better way.
- Plan campaigns easier, as it helps to focus the company on certain customer groups instead of targeting the mass market.
- Be more efficient in terms of time, money and other resources.
- Divide mass markets to target the right products at the right people, to satisfy customer needs, and to increase sales and profits.
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 gives a company the opportunity to pinpoint the exact message they way to convey to the market and to competitors. This can also help create product differentiation by communicating specifically how a company is different from its competitors.
www.investopedia.com/terms/m/marketsegmentati…Market segmentation refers to the categorization of the target population into groups or segments based on shared characteristics. It helps you to determine exactly what messaging will drive customers to make purchases. It also allows businesses to manage their time and money, among other resources, in a better way.www.voxco.com/blog/why-is-market-segmentation …Why market segmentation is important? When marketers use market segmentation it makes planning campaigns easier, as it helps to focus the company on certain customer groups instead of targeting the mass market. Segmentation helps marketers to be more efficient in terms of time, money and other resources.www.imsmarketing.ie/business-strategy/the-import…Businesses segment markets for a range of reasons. The main aim of businesses with segmentation is to divide mass markets. Businesses do this to target the right products at the right people, to satisfy customer needs, and to increase sales and profits.www.bbc.co.uk/bitesize/guides/z7866v4/revision/3 - People also ask
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