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    Effort of segmenting markets

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    Why do companies go through the effort of segmenting their markets?

    a. This is required by the Internal Revenue Service so that the company can accurately track and estimate annual sales tax payments.

    b. This allows a company to be able to better manage suppliers. Market segmentation refers to how a company divides up its material and merchandise requirements and what suppliers will be used.

    c. Market segmentation allows the company to more efficiently set up its accounting records to monitor expenses and revenue.

    d. This can enable the company to divide the overall potential market for their products into smaller groups with similar needs and wants so that the company can better develop effective marketing strategies.

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    This discusses the reasons of segmenting markets