Customer segments

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Marketing Technology
What is a customer segment? Is it related to 'segmentation?'

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Customer segmentation is the process of dividing a customer base into groups of individuals that are similar in some ways such as age, gender and spending habits. Customer segmentation also called consumer segmentation.

segmentation is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries.
Hence customer segmentation is related to segmentation.segmentation allows a seller to closely tailor  product according to the needs, uses and paying ability of customers. It allows sellers to
concentrate on their resources, money, time and effort on a profitable
market, target customer which will grow in numbers, usage and value. 

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