Market Segmentation is the process of dividing a large umbrella market into segments that share similar behaviors, pain points, desires, and other data points. Market Segments are traditionally identified using four factors: the segment can be clearly identified; the segment is large enough; the segment is accessible for promotional purposes; the segment is an appropriate fit based on the goals and resources of the company. Market Segmentation strategies are usually based on behavioral, demographic, psychographic, geographic, technographic, and firmographic data.
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