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Hi, can I get definition and examples of: a) market segmentation b) sub-segmentation

Hi, can I get definition and examples of:

a) market segmentation

b) sub-segmentation

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Answer #1

a)

Market segmentation or customer segmentation is the process of dividing the target market which is different from one another. There are three types of market segmentation. They are:-

  • Geographic segmentation by which market is divided by the climatic conditions, density, market size.
  • Demographic segmentation is dividing the marked based on age, sex, ethnic background, income etc.
  • Psychographics segmentation is dividing the market based on lifestyle, perception, desire etc.
  • Behavioral segmentation is dividing the market based on the knowledge, attitude, uses of products, etc.

b)

Sub-segmentation refers to the segment that is a part of larger segment. The example of sub-segmentation age which is a part of demographic segmentation.

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