Why Is Customer Segmentation So Very Important in Crafting the Strategy

question 12

Essay

Why is customer segmentation so very important in crafting the strategy for a new venture? How does that segmentation provide a focus for different activities within the business? Give an example, say for a travel company.

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Definitions:

Ship Date

The scheduled date on which a product is supposed to be dispatched or shipped to a customer.

Direct Approach

A communication style that involves stating the main point or objective at the beginning, followed by supporting details.

Justification

The reasoning or explanation behind a decision, action, or belief, demonstrating its validity.

Formal Complaint

An official report or allegation made by an individual or group regarding misconduct or dissatisfaction with a service or situation.