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Why are bases for segmentation essential?
Bases for Segmentation:
To develop a segmentation strategy the first step is to select the most appropriate bases on which to segment the market. Five major categories of consumer popular bases for market segmentation: geographical segmentation, demographic segmentation, psychographic or psychological segmentation, socio-cultural segmentation, use associated segmentation.
The portfolio of products that a given organization produces for market consumption is the product mix.
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