Market segmentation is the segmentation of markets into homogeneous groups of customers, each of them reacting differently to promotion, communication, pricing and other variables of the marketing mix. Market segments should be formed in such a way that the differences between buyers within each segment are as small as possible. Thus, every segment can be addressed with an individually targeted marketing mix. This book explains the prevailing market segmentation basis in the market and their current existence.
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‘Market Segmentation in FMCG Companies - Singh, Amandeep’.
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