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Market segmentation divides a diverse market into homogeneous segments with similar characteristics, needs, and behaviors. The primary goal is to enhance marketing effectiveness, and key points include:
Market segmentation aims to improve the efficiency and effectiveness of marketing efforts by identifying and addressing the varied needs and preferences of distinct customer groups. By understanding these segments and crafting strategies accordingly, businesses can improve their competitiveness, profitability, and customer relationships.
From Chapter 4:
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