why is market segmentation important to strategy implementat

why is market segmentation important to strategy implementation

Solution

Market segmentation or customer segmentation is the process of dividing the target market which is different from one another. There are three types of market segmentation. They are:-

Business strategy defines the path that needs to be taken by the organization for meeting the business goals. So, business-level strategies basically focus on using different methods required for operating the business. Strategy implementation refers to the means for execution of strategic plan. This involve designing the organizational structure, allocating resources, taking proper decision and managing the human resources effectively. Market segmentation is an important step in the process of formulating business level strategy and strategy implementation because: -