Identifying Market Segments and Targets

Market Segments means targeting a group of customers who share a similar set of needs and wants. Identify and profile distinct groups of buyers who differ in their needs and preferences. Select one or more market segments to enter. In this lecture briefly describe on what are the different levels of market segmentation; how can a company divide a market into segments; how should a company choose the most attractive target markets and what are the requirements for effective segmentation.