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What is Market Segmentation and Targeting?
Market segmentation is the method of categorizing the overall market into various customer sections. Target or targeting on the other hand includes deciding on which are the potential customer sections a company should concentrate on. This process is instrumental in recognizing and thereby targeting specific demographic groups. Customer demographics usually comprise of age, gender, household size, income, geographic area and other aspects. In practical functioning, market segmentation always takes places before targeting and ensures the success of a company’s marketing plan. 24x7assignmenthelp.com’s Market Segmentation and Targeting Homework Help service focuses on all these core areas and presents it with clarity in the academic paper.
Why is Market Segmentation and Targeting important?
Our Market Segmentation and Targeting Assignment Help service explains the importance of the subject. The process of market segmentation and targeting is essential for locating consumers that prove to be best match for a particular business’s services and products. It is not conducive to target each and every consumer, for all of them have various preferences, needs and wants. This process can be conducted through initial market researches. In addition to that, it can be implemented for both consumer and business customers. Other than demographic, there are few other ways to segment customers based on behavior traits or psychographics, for instance their usage rates and interests.
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