Market segmentation is so important for marketing because it helps you group a big market into smaller segments that you can analyze better. Here are some of the benefits of market segmentation:
- Improved customer satisfaction: Grouping your market into smaller segments allows you to determine what each segment is looking for which helps to improve customer satisfaction.
- Competitive advantage: Market segmentation allows you to differentiate your brand from competitors by offering unique propositions to specific segments.
- Increased sales and revenue: Creating different marketing strategies for different segments can help to increase your sales and revenue.