Segmentation can be complex. There are many aspects a person will need to consider before putting a product on the market. Segmentation, although can be expensive, will save a person money and time in the end. When trying to market a new product, there are many important questions to answer if the product is going to be a success. Three of these being, who will buy, where will they buy and how much will they be willing to pay. People can gather information like this by surveys, listening to customers, checking statistics, or watching the competition who has similar products.
Segmentation can save money and time by narrowing down the specifics on where and how to market a product. Knowing how the market works and reacts for different products is a must for any entrepreneur who wishes to succeed.
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