Segmentation refers to a process of bifurcating or dividing a large unit into various small units which have more or less similar or related characteristics.

The marketers divide the market into smaller segments based on gender. Both men and women have different interests and preferences, and thus the need for segmentation. Organizations need to have different marketing strategies for men which would obviously not work in case of females.

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The segmentation of the market as per the gender is important in many industries like cosmetics, footwear, jewellery and apparel industries. Division on the basis of age group of the target audience is also one of the ways of market segmentation. Marketers divide the consumers into small segments as per their income.

Individuals are classified into segments according to their monthly earnings. Stores catering to the higher income group would have different range of products and strategies as compared to stores which target the lower income group.

Market segmentation can also be as per the marital status of the individuals. Travel agencies would not have similar holiday packages for bachelors and married couples. A beach house shirt or a funky T Shirt would have no takers in a Zodiac Store as it caters specifically to the professionals.

The cybr stock options of such segmentation is the lifestyle of the forex maker market economics. The loyalties of the customers towards a particular brand help the marketers forex maker market economics classify them into smaller groups, geomagnetic activity stock market group comprising of individuals loyal towards a particular brand.

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Geographic segmentation refers to the classification of market into various geographical areas. Nestle promotes Nescafe all through the year in cold states of the country as compared to places which have well defined summer and winter season. Management Study Guide is a complete tutorial for management students, where students can learn the basics as well as advanced concepts related to management and its related subjects. Similar Articles Under - Market Segmentation.

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