Market for Machines: Segmenting for Term Paper

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The
choice of segmentation strategies could also be fine-tuned by the life-
stage of consumers, with those members of a target audience who have young
children needing clocks with simple numerals for example versus the more
ornate clocks that retirees like to decorate their homes with. The use of
attitudinal segmentation in conjunction with lifestyle and psychographic-
based analysis of consumers' needs can lead to entirely new classes of
products being produced.

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Often those companies with the best understanding
of the preferences of their consumers also create more innovative products
as a result.. In this regard, the use of segmentation as an approach to
driving future product innovation through more effective customer insights
is invaluable as well......

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