Market segmentation

Market segmentation is a way of understanding a big group of people and breaking them into smaller, more specific groups. It helps companies figure out what products or services people want and need, and make sure they are targeting the right people. Companies use market segmentation to figure out what type of products to make, so that they can offer something that people really want. To do market segmentation, companies typically look at things like age, gender, location, income, and interests. This helps the company understand better who is buying their product and why they are buying it.