What are the Benefits of Market Segmentation for Business?

[Suba]

Market segmentation is a strategy of dividing the market into different groups with the aim of being able to identify target consumers more closely so they can identify what they need, and fulfilling their needs with your business products and promotions will be carried out more easily and on target.

Market segmentation is usually preceded by conducting surveys, analysis and identification. So, what are the benefits of using market segmentation in a business?

 

[Stardom22]

I think market segmentation can give the seller the best avenues for contacting the customers and involving a direct, face to face communication about the products and services that they receive on the business.

 

[Suba]

I think market segmentation can give the seller the best avenues for contacting the customers and involving a direct, face to face communication about the products and services that they receive on the business.

I agree with you, businesses can get to know consumers more closely, so it will be easier to attract consumers to buy products, marketing or promotions will also be more focused.

 

[IB D]

Market segmentation makes you to identify a particular section of the target market you want to serve. It reduces cost because you would be able to target your marketing campaigns more narrowly to the market segment.