Market Segmentation

Paper Rating: Word Count: 449 Approx Pages: 2

Market segmentation is briefley the process of breaking down a larger target market into smaller segments with specific characteristics. Each group requires different promotional strategies and marketing mixes because each group has different wants and needs. Segmentation will help us customize our product, such as advertising or to reach and meet the specific needs of a narrowly defined customer group.

Before deciding to fund a market research we must be sure that the market is,

Market must be large enough for segmentation. We can not split a market that is already very small.

Differences must exist between members of the market and t

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