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Sagot :
Hillary is in the process of determining who buys the company product line based on the consumer's age, income, and education level. Hillary is defining the product's market segmentation.
- With the help of market segmentation, companies can target specific consumer groups and create products and branding that appeal to them.
- Multiple market segmentation techniques exist, including geographic, demographic, and behavioral segmentation.
- Market segmentation assists businesses in reducing risk by identifying the products that are most likely to capture a portion of a target market and the most effective strategies for marketing and distributing those products to that market.
- When risk is reduced and understanding of the marketing and delivery of a product is improved, a company can concentrate its resources on initiatives that are most likely to be financially successful.
- Market segmentation can broaden a company's demographic appeal and possibly lead to the discovery of goods or services they had not previously thought of.
Learn more about Market segmentation, here
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