This market segmentation guide assists businesses in determining which products are more likely to succeed in the market and thus reduce risk. Companies can therefore concentrate their resources on marketing campaigns likely to generate profit through ROI. You can create four market segments: demographic, psychographic, behavioral, and geographic. Market segmentation entails categorizing prospective customers into groups based on similar needs and characteristics. Companies use market segmentation guides to target customer segments that value certain products and services differently than others. The major goal of Market Segmentation is to assist a company in tailoring its products and advertising messages based on consumer segments.
