GEOGRAPHIC SEGMENTATION: AN ESSENTIAL ELEMENT OF MARKET

The goal of marketing segmentation is to enable firms to concentrate on the habits and patterns of their customers. If done correctly, marketing segmentation enables a company to maximize its return on investment (ROI) for both its marketing and sales efforts expenses. An organization should concentrate on the different sorts of segmentation if it markets its goods or services to consumers or businesses. According to Kotler (2010), market segmentation is the division of consumers into groups based on the demands they have in common and the buying patterns they develop.

 

Keywords: Marketing, Customer Segmentation, Market Segmentation.


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