Ultimately, segmenting an industry boils down to assessing the characteristics of its customers and products

Question

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Segmenting an industry involves dividing the market into groups with similar needs and characteristics, which is based on the assessment of the customers (their preferences, behaviors, and demographics) and the products (features, benefits, and usage). By understanding the segments, companies can develop targeted marketing strategies and tailor their offerings to meet the specific needs of each group.

Ultimately, Segmenting an Industry Boils Down to Assessing the Characteristics