Define Market Segmentation

question 34

Essay

Define market segmentation. Discuss its role in developing an effective marketing strategy.

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Definitions:

Uncertainty Avoidance

A cultural dimension that describes societies or individuals who attempt to mitigate the unpredictability of future events through established norms and procedures.

Power Distant Leader

A leader who maintains a significant gap between themselves and their followers in terms of authority and control.

Crowdsourcing

The use of collective intelligence gathered from the public for accomplishing tasks, often by the use of social media.

In-house

Pertaining to activities or operations performed within an organization rather than outsourced.