The Coffee Collective is seeking to identify customers who want a unique coffee-drinking experience and are open to a loyalty rewards program. In doing so market segment.
In marketing, market segmentation is the process of dividing a broad consumer or business market, usually made up of existing and potential customers, into subgroups of consumers based on common characteristics. You can reach them with more targeted and valuable messages. There are four main customer segmentation models that should be at the center of your marketing plan.
The term market segment refers to people grouped together for marketing purposes. A market segment is a portion of a larger market and often groups people together based on one or more similar characteristics.
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