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Established in 1999

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Market segmentation

Involves dividing the market up into customer groups with similar needs and wants and common characteristics eg age, gender, income, profession, in order to devise a marketing mix to meet the needs of one or more distinct customer group(s). The aim is to meet customer needs more precisely. It is often the prelude to targeting which means focusing on a particular segment (or segments) of the market. For example, a business could segment by

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