Answer: Market segmentation is the process of subdividing heterogenous consumer or organizational markets.
Explanation:
Market segmentation is the process in which the entire market is divided into groups or segments based on their nature. They are generally segmented into groups based on their interest, location and needs.
The companies divides their customer into smaller groups through segmentation which makes it easy to produce and market the products for these segments. Segmentation also helps the company to target the customers who have different perceptions on the product value. Market segmentation is done through deeper research of the market.
