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Summarize market segmentation and show examples.

Explain the meaning of 'market segmentation'. Please cite 2 examples.

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Market segmentation is the categorization of potential buyers into groups based on common characteristics such as age, gender, income, and geography or other attributes relating to purchase or consumption behavior. By Market segmentation, The firm divides a market by a strategy directed at gaining a major portion of sales to a subgroup in a category, rather than a more limited share of purchases by all category users.
<br>A company is then able to determine which groups of ...

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Summarize market segmentation and show examples.