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Dividing the customers into a different set of homogeneous group where the company can straightaway target that similar group as the target market and the potential clients is known as market segmentation. The main aim of segmentation is to match the group of purchasers who can be placed on the same set of necessity and buyers behavior. Market segmentation is being carried out to increase the marketing effectiveness, to develop the marketing activities, also generating the client's satisfaction and generates the savings.
Market segmentation can be divided into the following factors:
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