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  2. Market segmentation and targeting refer to the process of identifying a company’s potential customers, choosing the customers to pursue, and creating value for the targeted customers. It is achieved through the segmentation, targeting, and positioning (STP) process.
    corporatefinanceinstitute.com/resources/managem…
    Market segmentation seeks to identify targeted groups of consumers to tailor products and branding in a way that is attractive to the group. Markets can be segmented in several ways such as geographically, demographically, or behaviorally.
    www.investopedia.com/terms/m/marketsegmentati…

    Key takeaways:

    • Market segmentation is a process of dividing a population into groups that share common characteristics.
    www.indeed.com/career-advice/career-developme…
    To effectively identify your market segments and target market, it is essential to conduct thorough market research. Utilize a combination of qualitative and quantitative methods such as surveys, focus groups, data analysis, and customer profiling.
    magneticmarketing.com/blog/understanding-the-dif…
     
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