Question
What are the different bases for Market Segmentation?
Answer :
Word Count : 511
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Market segmentation is a crucial strategy in the apparel industry as it allows businesses to target specific groups of consumers effectively, thereby optimizing marketing efforts and increasing sales. Market segmentation divides a heterogeneous market into smaller, more homogeneous groups based on shared characteristics, needs, or behaviors. In the context of apparel and entrepreneurship, understanding these segments helps in designing products, pricing strategies, promotions, and distribution channels that align with customer expectations. One of the primary bases for market segmentation is demographic segmentation. This approach divides the market based on measurable population characteristics such as age, gender, income, occupation, education, family size, and marital status. For instance, teenagers may prefer trendy and affordable
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