Market segmentation

• Segmenting a market can help a business to figure out who exactly they are most interested in selling to.
• Use market research data to create a market map to find what they need to do to increase sales.
• Segmentation is when people within a market are divided into different groups to identify their target. They can then create a marketing strategy.
• A market can be segmented by its demographics, for example: age and income. But also can be divided into location and lifestyle.
• Market segmentation allows businesses to focus on the needs of specific customers, which helps them to be more effective with their resources. This means that they will have higher profits as well as being able to meet customer demands better.