Market Segmentation Scheme

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Market segmentation is the process of dividing a market into smaller groups of consumers with similar needs or characteristics. This allows businesses to create more targeted and effective marketing campaigns. The most common segmentation schemes include demographic, geographic, psychographic, and behavioral segmentation. Demographic segmentation involves dividing the market based on characteristics such as age, gender, income, and education. Geographic segmentation divides the market based on location, such as region or city. Psychographic segmentation is based on lifestyle, values, and personality. Finally, behavioral segmentation is based on consumer behavior, such as purchasing habits or brand loyalty. By understanding the different market segmentation schemes, businesses can develop more effective marketing campaigns that resonate with their target audience.


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