What is Market Segmentation

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Market Segmentation

Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing programs.


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The Boston Consulting group (BCG) Approach

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The Boston Consulting Group Approach "A portfolio-planning method that evaluates a company's strategic business units in terms of their market growth rate and relative market share. SBUs are classified as stars, cash cows, question marks, or dogs". Using the Boston Consulting Group (BCG) approach, a company classifies all its SBUs according to the growth-share matrix.
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