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What is your explanation of Demographic Market Segmentation and its importance for marketing strategy? - Bob Taylor - 03-24-2014 10:11 AM
- Tom Z - 03-24-2014 10:20 AM
Demographic segmentation is market segmentation based on various demographic factors, like age, gender, social class, income, location, education. Very few, if any, companies have an unlimited marketing budget. The idea behind segmenting a market is to make the greatest use of your marketing resources.
By using demographics you can focus your marketing efforts to those segments that are the most likely customers for your product.