This study enables to track and focus on the segments with the greatest profit potential.

Objectives of Segmentation:
– identifying target market needs, desires, and opportunities for consumers;
– Identifying product strengths, key characteristics, and attributes;
– meeting the needs of the target audience;
– assessing the company’s strengths and weaknesses in competing for the target market;
– identifying high-potential market niches not yet occupied by competitors;
– defining objectives for marketing activities.

Advantages of Segmentation:
– gaining market share;
– meeting the needs of the target audience;
– increasing the proportion of loyal customers;
– reducing production and promotion costs;
– maximizing company revenue.

Segmentation Criteria:
– product usage characteristics and purchase motivations;
– demographics: gender, age, nationality;
– socio-economic status (income level, education, social class, occupation, and financial situation;
– psychographics;
– regional differentiation;
– lifestyle.