Some Characteristics of Market Segmentation are:
- Market segmentation divides a large market into smaller, easier-to-handle groups based on specific traits.
- It uses different factors like age, location, and behavior to group customers.
- Good market segmentation helps businesses create marketing plans that fit each group’s needs.
- This method helps companies use their resources wisely and get better results.
- Market segmentation increases customer satisfaction by addressing specific wants and needs.