Market segmentation involves aggregating prospective buyers into groups that and will respond similarly to a marketing action.

have common needs

Explanation:

Marketing Segmentation refers to dividing or segregating markets into different segments based upon different traits. All prospective buyers classified into a particular segment, share common needs and buying preferences.

Marketing Segmentation can be done geographically, demographically, Psychographic or Behavioral basis.

Geographic relates to location, demographic relates to age composition or gender, psychographic relates to buyer psychology and perceptions, behavioral relates to behavior of buyers and their respective traits.

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