Market segmentation involves dividing a broad consumer or business market into sub-groups of consumers based on some type of shared characteristics. Steps to Perform Market Segmentation:<ol class="PlaygroundEditorTheme__ol1"><li value="1" class="PlaygroundEditorTheme__listItem">Identify Segmentation Criteria: Use demographic, geographic, psychographic, and behavioral criteria.</li><li value="2" class="PlaygroundEditorTheme__listItem">Segment Your Market: Divide your customer base into distinct groups.</li><li value="3" class="PlaygroundEditorTheme__listItem">Analyze Segments: Evaluate the size, growth potential, and profitability of each segment.</li><li value="4" class="PlaygroundEditorTheme__listItem">Select Target Segments: Choose the most promising segments to focus your marketing efforts on.</li><li value="5" class="PlaygroundEditorTheme__listItem">Develop Segment Profiles: Create detailed profiles for each target segment. </li></ol>Example: A beauty product company might segment their market based on age, gender, and skincare needs, targeting specific products to each group.

Learn how to perform market segmentation to identify and target specific customer groups effectively.

Market segmentation involves dividing a broad consumer or business market into sub-groups of consumers based on some type of shared characteristics.

****Steps to Perform Market Segmentation****:

1. ****Identify Segmentation Criteria****: Use demographic, geographic, psychographic, and behavioral criteria.
2. ****Segment Your Market****: Divide your customer base into distinct groups.
3. ****Analyze Segments****: Evaluate the size, growth potential, and profitability of each segment.
4. ****Select Target Segments****: Choose the most promising segments to focus your marketing efforts on.
5. ****Develop Segment Profiles****: Create detailed profiles for each target segment.

****Example****: A beauty product company might segment their market based on age, gender, and skincare needs, targeting specific products to each group.

Market segmentation involves dividing a broad consumer or business market into sub-groups of consumers based on some type of shared characteristics. Steps to Perform Market Segmentation:<ol class="PlaygroundEditorTheme__ol1"><li value="1" class="PlaygroundEditorTheme__listItem">Identify Segmentation Criteria: Use demographic, geographic, psychographic, and behavioral criteria.</li><li value="2" class="PlaygroundEditorTheme__listItem">Segment Your Market: Divide your customer base into distinct groups.</li><li value="3" class="PlaygroundEditorTheme__listItem">Analyze Segments: Evaluate the size, growth potential, and profitability of each segment.</li><li value="4" class="PlaygroundEditorTheme__listItem">Select Target Segments: Choose the most promising segments to focus your marketing efforts on.</li><li value="5" class="PlaygroundEditorTheme__listItem">Develop Segment Profiles: Create detailed profiles for each target segment. </li></ol>Example: A beauty product company might segment their market based on age, gender, and skincare needs, targeting specific products to each group.

Performing a Market Segmentation

Market segmentation involves dividing a broad consumer or business market into sub-groups of consumers based on some type of shared characteristics. Steps to Perform Market Segmentation:<ol class="PlaygroundEditorTheme__ol1"><li value="1" class="PlaygroundEditorTheme__listItem">Identify Segmentation Criteria: Use demographic, geographic, psychographic, and behavioral criteria.</li><li value="2" class="PlaygroundEditorTheme__listItem">Segment Your Market: Divide your customer base into distinct groups.</li><li value="3" class="PlaygroundEditorTheme__listItem">Analyze Segments: Evaluate the size, growth potential, and profitability of each segment.</li><li value="4" class="PlaygroundEditorTheme__listItem">Select Target Segments: Choose the most promising segments to focus your marketing efforts on.</li><li value="5" class="PlaygroundEditorTheme__listItem">Develop Segment Profiles: Create detailed profiles for each target segment. </li></ol>Example: A beauty product company might segment their market based on age, gender, and skincare needs, targeting specific products to each group.

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