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Market segmentation and targeting are very important topics in the academic branch of marketing. Market segmentation involves identifying a particular market that needs to be segmented. It is a comprehensive process where different groups of buyers in a respective market are segregated and then profiling is done according to a set of variables.
It is a useful way that helps in understanding the market tendencies and characteristics in a better manner.
Market targeting is different from segmentation and it is the process where business organizations aim to identify the most suitable or most attractive market segment. Thus targeting is done, keeping in mind the profit objectives of the company.
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