KADUNA STATE UNIVERSITY

FAULTY OF COMMUNICATION AND MEDIA STUDIES

DEPARTMENT OF MASS COMMUNICATION

COURSE TITLE: MARKETING FOUNDATION FOR PR AND ADVERT

COURSE CODE: MCM 231

ASSIGNMENT: MARKETING SEGMENTATION

LECTURER NAME: MALLAM YUSUF ADAMU

GROUP 8 MEMBERS

MATRIC NUMBER NAMES OF MEMBERS

KASU/22/MCM/1058 SALAHUDEEN MUHAMMAD

KASU/22/MCM/1064 YUSUF MUHAMMAD LAWAL

KASU/22/MCM/1073 HANNIFAH MOHAMMAD DIKKO

KASU/22/MCM/1074 MARYAM OLAWUNMI ONI

KASU/22/MCM/1075 ABDULLAH UMMI SUMMAIYAH

KASU/22/MCM/1076 FAVOUR EGHONGHON EHIZIBUE

KASU/22/MCM/1077 FAIZA SHEFIU

KASU/22/MCM/1078 MUBARAKA YUKUBU

KASU/22/MCM/1079 MUHAMMAD FATIMA JAMIU

KASU/22/MCM/1080 AHMAD MUNIRAT YAYANGIDA

WHAT IS MARKET SEGMENTATION?

Market segmentation is the practice of dividing your target market into approachable groups.
Market segmentation creates subsets of a market based on demographics, needs, priorities,
common interests, and other psychographic or behavioral criteria used to better understand the
target audience.

By understanding your market segments, you can leverage this targeting in product, sales, and
marketing strategies. Market segments can power your product development cycles by informing
how you create product offerings for different segments like men vs. women or high income vs.
low income.

Read on to understand why segmentation is important for growth and the types of market
segmentation to use to maximize the benefits for your business.

THE BENEFITS OF MARKET SEGMENTATION

Companies who properly segment their market enjoy significant advantages. According to a
study by Bain & Company, 81% of executives found that segmentation was crucial for growing
profits. Bain also found that organizations with great market segmentation strategies enjoyed a
10% higher profit than companies whose segmentation wasn’t as effective over a 5-year period.

Other benefits include:

* Stronger marketing messages: You no longer have to be generic and vague – you can speak
directly to a specific group of people in ways they can relate to, because you understand their
characteristics, wants, and needs.

* Targeted digital advertising: Market segmentation helps you understand and define your
audience’s characteristics, so you can direct your online marketing efforts to specific ages,
locations, buying habits, interests etc.

* Developing effective marketing strategies: Knowing your target audience gives you a head
start about what methods, tactics and solutions they will be most responsive to.
* Better response rates and lower acquisition costs: will result from creating your marketing
communications both in ad messaging and advanced targeting on digital platforms like Facebook
and Google using your segmentation.

* Attracting the right customers: targeted, clear, and direct messaging attracts the people you
want to buy from you.

* Increasing brand loyalty: when customers feel understood, uniquely well served, and trusting,
they are more likely to stick with your brand.

* Differentiating your brand from the competition: More specific, personal messaging makes
your brand stand out.

* Identifying niche markets: segmentation can uncover not only underserved markets, but also
new ways of serving existing markets – opportunities which can be used to grow your brand.

* Staying on message: As segmentation is so linear, it’s easy to stay on track with your
marketing strategies, and not get distracted into less effective areas.

* Driving growth: You can encourage customers to buy from you again, or trade up from a
lower-priced product or service.

* Enhanced profits: Different customers have different disposable incomes; prices can be set
according to how much they are willing to spend. Knowing this can ensure you don’t oversell (or
undersell) yourself.

* Product development: You’ll be able to design new products and services with the needs of
your customers top of mind, and develop different products that cater to your different customer
base areas.

Types of market segmentation

With segmentation and targeting, you want to understand how your market will respond in a
given situation, like what causes people to purchase your products. In many cases, a predictive
model may be incorporated into the study so that you can group individuals within identified
segments based on specific answers to survey questions.
Demographic segmentation

Demographic segmentation sorts a market by elements such as age, education, household

income, marital status, family size, race, gender, occupation, and nationality. The demographic
approach is one of the simplest and most commonly used types of market segmentation because
the products and services we buy, how we use those products, and how much we are willing to
spend on them is most often based on demographic factors. It’s also seen as a simple method of
predicting future behavior, because target audiences with similar characteristics often behave in
similar ways.

How to start demographic segmentation?

Demographic segmentation is often the easiest because the information is the most readily
available. You can send surveys directly to customers to determine their demographic data, or
use readily available third party data such as government census data to gather further
information.

Geographic segmentation

Geographic segmentation can be a subset of demographic segmentation, although it can also be a

unique type of market segmentation in its own right. As its name suggests, it creates different
target customer groups based on geographical boundaries. Because potential customers have
needs, preferences, and interests that differ according to their geographies, understanding the
climates and geographic regions of customer groups can help determine where to sell and
advertise, as well as where to expand your business.

How to start geographic segmentation

Geographic segmentation data again can be solicited from customers through surveys or
available third-party market research data, or can be sourced from operational data such as IP
addresses for website visitors.

Firmographic segmentation

Firmographic segmentation is similar to demographic segmentation, except that demographics

look at individuals while firmographics looks at organizations. Firmographic segmentation
would consider things like company size, number of employees and would illustrate how
addressing a small business would differ from addressing an enterprise corporation.

How to start firmographic segmentation

Firmographic segmentation data can be found in public listings for companies and information
that the business makes available, as well as trade publications. Again, surveying existing and
potential customers can help to build out this data.

Behavioral segmentation

Behavioral Segmentation divides markets by behaviors and decision-making patterns such as

purchase, consumption, lifestyle, and usage. For instance, younger buyers may tend to purchase
bottled body wash, while older consumer groups may lean towards soap bars. Segmenting
markets based on purchase behaviors enables marketers to develop a more targeted approach,
because you can focus on what you know they are looking for, and are therefore more likely to
buy.

How to start behavioral segmentation

Of all the types of market segmentation, behavioral segmentation is likely best started with the
information you have on an existing customer base. Though it can be bolstered by third party
market research data, the information you already have on customer purchase and usage behavior
will be the best predictor of future behavior.

Psychographic segmentation

Psychographic segmentation considers the psychological aspects of consumer behavior by

dividing markets according to lifestyle, personality traits, values, opinions, and interests of
consumers. Large markets like the fitness market use psychographic segmentation when they
sort their customers into categories of people who care about healthy living and exercise.

How to start psychographic segmentation

Psychographic segmentation relies on data provided by the consumers themselves. Though

market research might provide insights on what particular segments are most likely to believe or
prefer, psychographic segmentation is best completed with information direct from the source.
You can use survey questions with a qualitative focus to help draw out insights in the customers’
own voice.

How to get started with segmentation

There are five primary steps to all marketing segmentation strategies:

* Define your target market: Is there a need for your products and services? Is the market large
or small? Where does your brand sit in the current marketplace compared to your competitors?

* Segment your market: Decide which of the five criteria you want to use to segment your
market: demographic, firmographic, psychographic, geographic, or behavioral. You don’t need
to stick to just one – in fact, most brands use a combination – so experiment with each one to
figure out which combination works best for your needs.

* Understand your market: You do this by conducting preliminary research surveys, focus
groups, polls, etc. Ask questions that relate to the segments you have chosen, and use a
combination of quantitative (tickable/selectable boxes) and qualitative (open-ended for open text
responses) questions.

* Create your customer segments: Analyze the responses from your research to highlight which
customer segments are most relevant to your brand.

* Test your marketing strategy: Once you have interpreted your responses, test your findings by
creating targeted marketing, advertising campaigns and more for your target market, using
conversion tracking to see how effective it is. And keep testing. If uptake is disappointing, relook
at your segments or your research methods and make appropriate changes.

Market segmentation strategy

Why should market segmentation be considered a strategy? A strategy is a considered plan that
takes you from point A to point B in an effective and useful way. The market segmentation
process is similar, as there will be times you need to revisit your market segments, such as:
In times of rapid change: A great example is how the Covid-19 pandemic forced a lot of
businesses to rethink how they sell to customers. Businesses with physical stores looked at
online ordering, while restaurant owners considered using food delivery services.

If your customers change, your market segmentation should as well, so you can understand
clearly what your new customers need and want from you.

On a yearly basis: Market segments can change year over year as customers are affected by
external factors that could alter their behavior and responses.

For example, natural disasters caused by global warming may impact whether a family chooses
to stay living in an area prone to more of these events. On a larger scale, if your target customer
segment moves away from one of your sales regions, you may want to consider re-focussing
your sales activities in more populated areas.

At periodic times during the year: If you’ve explored your market and created market segments
at one time of the year, the same market segments may have different characteristics in a
different season. Seasonal segmentation may be necessary for better targeting.

For example, winter has several holidays, with Christmas being a huge influence on families.
This holiday impacts your market segments’ buying habits, how they’ll behave (spending more
than normal at this time than any other) and where they will travel (back home for the holidays).
Knowing this information can help you predict and prepare for this period.

When considering updating your market segmentation strategy, consider these three areas:

* Acknowledge what has changed: Find out what has happened between one time period and
another, and what have been the driving forces for that change. By understanding the reasons
why your market is different, you can make key decisions on whether you want to change your
approach or stay the course.

* Don’t wait to start planning: Businesses are always adapting to long-term trends, so refreshing
market segmentation research puts you in a proactive place to tackle these changes head-on.
Once you have your market segments, a good idea is to consider the long-term complications or
risks associated with each segment, and forward-plan some time to discuss problem-solving if
those issues arise.

* Go from “what” to “why”: Why did those driving forces come about? Why are there risks with
your target market? At Qualtrics, we partner with companies to understand the different aspects
of target markets that drive or slow success. You’ll have the internal data to understand what’s
happening; we help unleash insight into why with advanced modeling techniques. This helps you
get smart market segmentation that is predictive and actionable, making it easier for future
research and long-term segment reporting.

Segmentation and targeting

If you have your entire market separated into different customer segments, then you have defined
them by set criteria, like demographics, needs, priorities, common interests, or behavioral
preferences.

With this information, you can target your products and services toward these market segments,
making marketing messages and collateral that will resonate with that particular segment’s
criteria.

Ensuring effective segments

After you determine your segments, you want to ensure they’ll be useful. A good segmentation
analysis should pass the following tests:

* Measurable: Measurable means that your segmentation variables are directly related to
purchasing a product. You should be able to calculate or estimate how much your segment will
spend on your product. For example, one of your segments may be made up of people who are
more likely to shop during a promotion or sale.

* Accessible: Understanding your customers and being able to reach them are two different
things. Your segments’ characteristics and behaviors should help you identify the best way to
meet them. For example, you may find that a key segment is resistant to technology and relies on
newspaper or radio ads to hear about store promotions, while another segment is best reached on
your mobile app. One of your segments might be a male retiree who is less likely to use a mobile
app or read email, but responds well to printed ads.

* Substantial: The market segment must have the ability to purchase. For example, if you are a
high-end retailer, your store visitors may want to purchase your goods but realistically can’t
afford them. Make sure an identified segment is not just interested in you, but can be expected to
purchase from you. In this instance, your market might include environmental enthusiasts who
are willing to pay a premium for eco-friendly products, leisurely retirees who can afford your
goods, and successful entrepreneurs who want to show off their wealth.

* Actionable: The market segment must produce the differential response when exposed to the
market offering. This means that each of your segments must be different and unique from each
other. Let’s say that your segmentation reveals that people who love their pets and people who
care about the environment have the same purchasing habits. Rather than having two separate
segments, you should consider grouping both together in a single segment.

Common segmentation errors

We’ve outlined the dos, so here are some of the don’ts:

* Avoid making your segments too small or specialized: Small segments may not be quantifiable
or accurate, and can be distracting rather than insightful

* Don’t just focus on the segment rather than the money: Your strategy may have identified a
large segment, but unless it has the buying power and wants or needs your product, it won’t
deliver a return on investment

* Don’t be inflexible: Customers and circumstances change, so don’t let your segments become
too entrenched – be prepared to let them evolved at online ordering, while restaurant owners
considered using food delivery services.

If your customers change, your market segmentation should as well, so you can understand
clearly what your new customers need and want from you.
On a yearly basis: Market segments can change year over year as customers are affected by
external factors that could alter their behavior and responses.

For example, natural disasters caused by global warming may impact whether a family chooses
to stay living in an area prone to more of these events. On a larger scale, if your target customer
segment moves away from one of your sales regions, you may want to consider re-focussing
your sales activities in more populated areas.

At periodic times during the year: If you’ve explored your market and created market segments
at one time of the year, the same market segments may have different characteristics in a
different season. Seasonal segmentation may be necessary for better targeting.

For example, winter has several holidays, with Christmas being a huge influence on families.
This holiday impacts your market segments’ buying habits, how they’ll behave (spending more
than normal at this time than any other) and where they will travel (back home for the holidays).
Knowing this information can help you predict and prepare for this period.

When considering updating your market segmentation strategy, consider these three areas:

* Acknowledge what has changed: Find out what has happened between one time period and
another, and what have been the driving forces for that change. By understanding the reasons
why your market is different, you can make key decisions on whether you want to change your
approach or stay the course.

* Don’t wait to start planning: Businesses are always adapting to long-term trends, so refreshing
market segmentation research puts you in a proactive place to tackle these changes head-on.
Once you have your market segments, a good idea is to consider the long-term complications or
risks associated with each segment, and forward-plan some time to discuss problem-solving if
those issues arise.

* Go from “what” to “why”: Why did those driving forces come about? Why are there risks with
your target market? At Qualtrics, we partner with companies to understand the different aspects
of target markets that drive or slow success. You’ll have the internal data to understand what’s
happening; we help unleash insight into why with advanced modeling techniques. This helps you
get smart market segmentation that is predictive and actionable, making it easier for future
research and long-term segment reporting.

Segmentation and targeting

If you have your entire market separated into different customer segments, then you have defined
them by set criteria, like demographics, needs, priorities, common interests, or behavioral
preferences.

With this information, you can target your products and services toward these market segments,
making marketing messages and collateral that will resonate with that particular segment’s
criteria.

Ensuring effective segments

After you determine your segments, you want to ensure they’ll be useful. A good segmentation
analysis should pass the following tests:

* Measurable: Measurable means that your segmentation variables are directly related to
purchasing a product. You should be able to calculate or estimate how much your segment will
spend on your product. For example, one of your segments may be made up of people who are
more likely to shop during a promotion or sale.

*Accessible: Understanding your customers and being able to reach them are two different
things. Your segments’ characteristics and behaviors should help you identify the best way to
meet them. For example, you may find that a key segment is resistant to technology and relies on
newspaper or radio ads to hear about store promotions, while another segment is best reached on
your mobile app. One of your segments might be a male retiree who is less likely to use a mobile
app or read email, but responds well to printed ads.

* Substantial: The market segment must have the ability to purchase. For example, if you are a
high-end retailer, your store visitors may want to purchase your goods but realistically can’t
afford them. Make sure an identified segment is not just interested in you, but can be expected to
purchase from you. In this instance, your market might include environmental enthusiasts who
are willing to pay a premium for eco-friendly products, leisurely retirees who can afford your
goods, and successful entrepreneurs who want to show off their wealth.

* Actionable: The market segment must produce the differential response when exposed to the
market offering. This means that each of your segments must be different and unique from each
other. Let’s say that your segmentation reveals that people who love their pets and people who
care about the environment have the same purchasing habits. Rather than having two separate
segments, you should consider grouping both together in a single segment.

Common segmentation errors

We’ve outlined the dos, so here are some of the don’ts:

* Avoid making your segments too small or specialized: Small segments may not be quantifiable
or accurate, and can be distracting rather than insightful

* Don’t just focus on the segment rather than the money: Your strategy may have identified a
large segment, but unless it has the buying power and wants or needs your product, it won’t
deliver a return on investment

* Don’t be inflexible: Customers and circumstances change, so don’t let your segments become
too entrenched – be prepared to let them evolve.

WHAT IS MARKETING SEGMENTATION?

Marketing segmentation is the practice of dividing a larger market into smaller groups of
consumers who share similar characteristics and behaviors. These groups, or segments, are then
targeted with specific marketing strategies and campaigns that are tailored to their unique
preferences and needs. This approach allows companies to more effectively reach their target
audience and create more personalized and relevant messaging. Some common segmentation
variables include demographics, psychographics, behavior, and geographic location.

IMPORTANCES OF MARKETING SEGMENTATION

Marketing segmentation is important for several reasons:

1. Allows for targeted marketing: By dividing a market into segments, companies can target
specific groups of consumers with tailored marketing messages that are more likely to resonate
with them. This can lead to higher engagement and conversion rates.

2. Enhances customer satisfaction: Segmenting customers based on their needs and preferences
allows companies to better understand their target audience and deliver products and services
that meet their specific requirements. This can result in increased customer satisfaction and
loyalty.

3. Improves product development: Segmenting the market can help companies identify new
opportunities for product development and innovation. By understanding the unique needs and
preferences of different customer segments, companies can create products that better meet those
needs.

4. Optimizes marketing resources: By focusing on the most profitable segments, companies can
optimize their marketing resources and budgets. This ensures that marketing efforts are targeted
towards the most valuable customers, maximizing the return on investment.

5. Helps in competitive positioning: By identifying key market segments and understanding their
needs, companies can position themselves effectively against competitors. This allows
companies to differentiate their products and services and create a competitive advantage in the
market.

Overall, marketing segmentation is a valuable tool for companies to better understand their target
audience, improve customer satisfaction, optimize resources, and drive growth and profitability.

FUNCTIONS OF MARKETING SEGMENTATION

There are several functions of marketing segmentation that are essential for companies to
effectively reach their target audience and drive business growth:

1. **Targeting specific customer groups: ** Marketing segmentation helps companies identify

and target specific groups of customers who share common characteristics, behaviors, or needs.
By focusing on these segments, companies can tailor their marketing strategies and messages to
appeal to the unique preferences of each group.
2. **Understanding customer needs: ** Segmentation allows companies to gain a deeper
understanding of their customers' needs, preferences, and buying behaviors. By segmenting the
market, companies can identify trends, patterns, and insights that can inform product
development, marketing campaigns, and overall business strategy.

3. **Increasing customer retention: ** Segmentation enables companies to create personalized

and targeted marketing campaigns that are more likely to resonate with customers. By delivering
relevant messages and offers to specific customer segments, companies can enhance customer
satisfaction, loyalty, and retention rates.

4. **Optimizing marketing resources: ** By focusing on the most profitable customer segments,

companies can allocate their marketing resources more effectively. This ensures that marketing
efforts are targeted towards the most valuable customers, maximizing the return on investment
and improving overall marketing efficiency.

5. **Driving product innovation: ** Marketing segmentation can uncover unmet needs and
opportunities in the market that can inform product development and innovation. By
understanding the preferences and behaviors of different customer segments, companies can
create products and services that better align with customer expectations and drive competitive
advantage.

In summary, marketing segmentation plays a crucial role in helping companies target specific
customer groups, understand customer needs, increase customer retention, optimize marketing
resources, and drive product innovation. By leveraging segmentation strategies, companies can
more effectively engage with their target audience, build stronger customer relationships, and
drive business success.

FEATURES OF MARKETING SEGMENTATION

Marketing segmentation is the practice of dividing a market into distinct groups of consumers
who have similar characteristics and behaviors. This segmentation allows companies to better
target their marketing efforts, customize their messaging, and create more relevant products and
services for specific customer groups. Some key features of marketing segmentation include:
1. Identification of target markets: Segmentation helps companies identify specific groups of
consumers within a larger market who are most likely to be interested in their products or
services. By focusing on these target markets, companies can allocate their resources more
effectively and improve their chances of success.

2. Customized marketing strategies: Segmentation allows companies to develop customized

marketing strategies for each segment based on their unique needs, preferences, and behaviors.
This personalized approach can lead to higher engagement, conversion rates, and customer
satisfaction.

3. Product differentiation: Segmentation helps companies identify opportunities for product

differentiation by understanding the specific needs and preferences of different customer
segments. By tailoring their products and services to meet the needs of each segment, companies
can create a competitive advantage in the market.

4. Improved customer relationships: Segmenting the market allows companies to develop deeper
and more meaningful relationships with their customers. By understanding their customers'
preferences and behaviors, companies can deliver more personalized experiences and build
stronger brand loyalty.

5. Enhanced targeting and positioning: Segmentation enables companies to target specific

customer segments with messages and offers that are relevant and compelling to them. This
helps companies position themselves effectively in the market and differentiate themselves from
competitors.

Overall, marketing segmentation is a powerful tool that can help companies improve their
marketing effectiveness, customer relationships, and competitive advantage. By understanding
the unique characteristics and behaviors of different customer segments, companies can create
more targeted and impactful marketing strategies that drive growth and profitability

BENEFITS OF MARKETING SEGMENTATION

Marketing segmentation offers a range of benefits to companies looking to improve their

marketing strategies and better target their audience. Some of the key benefits include:
1. Improved targeting: By dividing the overall market into smaller segments based on specific
characteristics, companies can tailor their marketing efforts to better target and reach the right
audience. This leads to more effective communication and higher engagement levels.

2. Increased customer satisfaction: Marketing segmentation allows companies to better

understand the needs and preferences of different customer groups. By providing personalized
and relevant messaging, products, and services to each segment, companies can enhance
customer satisfaction and loyalty.

3. Higher conversion rates: Targeted marketing campaigns that speak directly to the needs and
interests of specific customer segments are more likely to resonate and drive conversions. This
results in higher conversion rates and increased sales.

4. Optimal resource allocation: Segmentation helps companies allocate their marketing resources
more effectively by focusing on the most valuable customer segments. This ensures that
resources are not wasted on reaching out to uninterested or irrelevant audiences, leading to a
higher return on investment.

5. Competitive advantage: By understanding the market and customer segments better than
competitors, companies can create a unique value proposition and position themselves more
effectively in the market. This competitive advantage can help drive growth and long-term
success.

Overall, marketing segmentation enables companies to better understand their customers, tailor
their marketing efforts, and drive business results through improved targeting, customer
satisfaction, conversion rates, resource allocation, and competitive positioning.

ADVANTAGES OF MARKETING SEGMENTATION

There are several advantages of marketing segmentation, including:

1. Targeted Marketing: By dividing the market into segments based on specific criteria such as
demographics, psychographics, behaviors, or needs, companies can create targeted marketing
campaigns that are customized for each segment. This can lead to higher engagement and
conversion rates as messages are more relevant and appealing to the target audience.
2. Better Understanding of Customers: Segmenting the market allows companies to gain a deeper
understanding of their customers' needs, preferences, and behaviors. This insight can help
companies tailor their products, services, and marketing strategies to better meet the specific
needs of each segment, leading to increased customer satisfaction and loyalty.

3. Improved Product Development: Marketing segmentation can help companies identify new
opportunities for product development and innovation by understanding the unique needs and
preferences of different customer segments. By developing products that cater to the specific
demands of each segment, companies can gain a competitive advantage in the market.

4. Efficient Resource Allocation: By focusing on the most profitable market segments,

companies can optimize their marketing resources and budgets. This ensures that marketing
efforts are targeted at the most valuable customers, maximizing the return on investment and
improving overall business performance.

5. Competitive Advantage: Marketing segmentation can help companies differentiate themselves

from competitors by tailoring their products, services, and marketing messages to the specific
needs of their target segments. This can help companies stand out in the market and attract and
retain loyal customers.

Overall, marketing segmentation is a powerful tool that can help companies better understand
their target audience, improve customer satisfaction, drive innovation, optimize resources, and
gain a competitive advantage in the market.

DISADVANTAGES OF MARKETING SEGMENTATION

While marketing segmentation offers several benefits, there are also some disadvantages
associated with this strategy, including:

1. Complexity: Managing multiple market segments can be complex and resource-intensive.

Companies may need to develop separate marketing strategies, messaging, and campaigns for
each segment, which can be time-consuming and costly.
2. Cannibalization: When companies target specific market segments with tailored products or
services, there is a risk of cannibalization within their own product lines. This occurs when a new
product aimed at one segment steals sales from an existing product aimed at another segment.

3. Overlooked opportunities: Focusing on specific market segments may cause companies to

overlook potential opportunities in other segments. By narrowing their focus, companies may
miss out on unmet needs or emerging trends in the broader market.

4. Fragmented brand identity: When companies target multiple market segments with different
products or messaging, there is a risk of diluting the brand's identity and confusing consumers.
Maintaining a consistent brand image across different segments can be challenging.

5. Increased competition: As more companies adopt segmentation strategies, competition within

each segment may intensify. Companies must continuously innovate and adapt their offerings to
stay ahead of competitors targeting the same segments.

6. Data management issues: Effective segmentation relies on accurate and up-to-date customer
data. Maintaining and analyzing large amounts of data can be challenging, especially for smaller
companies with limited resources.

Overall, while marketing segmentation can be a powerful strategy for targeting specific customer
groups, companies must carefully consider these disadvantages and develop strategies to mitigate
potential challenges.
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