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Marketers know they cannot profitably serve all customers in a given market, at least not in the same way. Everyone has different needs. This is why they use Market Segmentation. This is the process in which a company breaks down the market into smaller groups, with certain needs, characteristics or behaviors. This could be by dividing it into male and female, different age groups, occupation, household size, income, education background and religion (demographics), countries, states, towns, communities, and regions (geographic), social class, personality, lifestyles (psychographic), and also technographic which could be how one makes their purchases; credit card, cash, etc...
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