Was Is Customer Segmentation?

In marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers based on some type of shared characteristics.

What is meant by customer segmentation?

Customer segmentation is the practice of dividing a company's customers into groups that reflect similarity among customers in each group. The goal of segmenting customers is to decide how to relate to customers in each segment in order to maximize the value of each customer to the business.

What is customer segmentation with example?

The most common types of customer segmentation are:

Demographic Segmentation – based on gender, age, occupation, marital status, income, etc. Geographic Segmentation – based on country, state, or city of residence. ... Psychographic Segmentation – based on personal attitudes, values, interests, or personality traits.