When a business has to expand its customer base it has to conduct some study about the customers. These may be existing customers or would be customers. As everybody knows that every customer is different from others so their needs are also different. The company’s fundamental goal should be to use every single penny wisely. This is applicable especially to the start-ups as these have a limited finance for sales and marketing. So, these departments should use this money to concentrate on market segmentation. BookMyEssay provides online market segmentation assignment writing help service to all the students at a reliable cost.

What is Market Segmentation?

It is an activity used to study customers. The customers whether existing or potential, are divided into different categories based on different criteria. This helps the company to identify which type of customer is suitable for their products or services. The four main types of criteria on which the segmentation is based are geographic, behavioural, demographic or psychographic.

Why Customer Growth Critically Depends on It?

If we discuss in detail the above criteria, we will find that how market segmentation really influence the products and services. We will come to know that how growth of customers for any business critically depends upon market segmentation.

  • Geographic segmentation: It is entirely focused on the location of the customer. It means the city, district, state, country or even the continent, are the key areas to be considered. For example the customers of Asia have different needs than the customers of South America. The lifestyle of people entirely changes when we move across a continent. This type of segmentation is best suited for the international companies.
  • Behavioural segmentation: This segmentation depends upon the customers’ previous behaviour towards your brand. This includes knowledge of the product, patterns of purchase, rating of your products etc. This determines which product or service will be best for the customers.
  • Demographic segmentation: This is based on who your customer is. The traits like the age, gender, occupation, educational qualification, income, family status etc are used for this segmentation. This determines the main target customers for the company.
  • Psychographic segmentation: This segmentation is based upon the personality of the customer. The traits included may be attitudes, lifestyle, values and interests. These traits bring out selected audience who value your high quality products. There are many companies in the world who make limited edition products with handful of customers but their earnings are in millions based on these limited customers only.

By observing the above four types of market segmentation it becomes clear that how important it is for building a strong customer base. The approach should be to identify the right customer for your products or services and then improve or develop these accordingly.

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Market segmentation is an important activity linked to various areas of market like market research, marketing and marketing management. So many students of management courses related to marketing may get this topic as an important assignment for their gradation. To get higher grades, many students go for market segmentation case study assignment writing help. BookMyEssay is a famous site helping students in their assignments. Our custom assignment writing service is available for students of all the countries. Our assignment writing tips are very useful for those students. Ours is a quality service which aims at the bright future of the students.