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What is the most important reason for a firm to segment?
Source: The Art and Science of Marketing: Marketing for Marketing Managers , by Grahame Dowling. Oxford University Press © 2004
"For most organizations, market segmentation is a primary way to search for and exploit market opportunities.
Market segmentation—is the process of partitioning a heterogeneous market into a number of homogeneous groups of consumers.
Market segments—are groups of actual or potential consumers who can be expected to respond in a similar way to a product or service offer. That is, they want the same types of benefits or solutions to problems from the product or service, or they are expected to respond in a similar way to a marketing programme.
When customers are segmented primarily according to their needs, it is clear how products and services ...
Firms segment to better satisfy the needs and wants of their customers.