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Market Segmentation 7

Market Segmentation

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Title: Market Segmentation

Essay Details:

Subject: Business

Author: David S

Date: December 18, 2014

Level: University

Grade: A

Length: 2 / 326

Essay text:

Markets can be segmented or targeted using a variety of factor. The bases for segmenting consumer markets include: Demographical bases (age, family size, life cycle, occupation) Geographical bases (states, regions, countries) Behavior bases (product knowledge, usage, attitudes, responses) Psychographic bases (lifestyle, values, personality) A business must analyze the needs and wants of different market segments before determining their own niche. To be effective in market segmentation keep the following things in mind: Segments or target markets should be accessible to the business Each segmented group must be large enough to provide a solid customer base...

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