A company searching for a successful business model has to group customers according to the similarities or differences in their needs to discover what kinds of products to develop that will best meet the needs of different kinds of customers.

Question

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This statement is true. Customer segmentation helps a company to identify and understand the needs of different groups of customers, which in turn allows them to develop products and services that cater to those specific needs.

A Company Searching for a Successful Business Model Has to Group