Whereas market segmentation tells a business owner who might buy the product, developing an understanding of consumer behavior is helpful to learn why people buy the product.

Question

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Market segmentation helps in identifying different groups of potential customers based on various characteristics, while understanding consumer behavior delves into the motivations, attitudes, and factors that influence why consumers make purchasing decisions, thus complementing each other in the marketing strategy.

Whereas Market Segmentation Tells a Business Owner Who Might Buy