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23 November, 13:58

What is market segmentation? List the steps in the market segmentation process.

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  1. 23 November, 14:15
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    Market segmentation refers to a term in which there is a division of large markets into the smaller ones and this segregation is based on the customers which are having similar characteristics, wants or needs.

    Following are the steps included in the market segmentation process:-

    a) Market potential will be forecasted

    b) Market share will be estimated

    c) Market segments would be chosen

    d) Formation of users profile
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