Answer to Question #314390 in Marketing for lady

Question

conduct a detailed discussion on the importance or benefits of segmenting and targeting markets for firms and include a myriad of national and international examples

Answer 1

Market segmentation allows companies to focus on the right audience in the right way to save time and resources. The target market also increases the chances of people engaging with your products or service to improve performance and productivity. Furthermore, segmentation helps companies to learn and understand their customers' needs and wants. For example, Victoria's secret mostly targets women but its pink brand targets teenage girls and young women.