Estimated duration: 5 minutes
This video talks about the importance of customer segmentation and explains how different customer characteristics can be used for segmenting, targeting, and positioning customers to increase sales. Furthermore, it discusses different concepts for analyzing consumer data that marketing teams can opt to understand customer psychology. We answer questions such as: What are segments? How do organizations use customer segmentation? What is the umbrella concept? How do different segments respond to the same marketing strategy? In how many groups do marketing teams, segment customers? What does a marketing framework consist of? What are the advantages of knowing the customer? How do marketing analytics use machine learning to perform customer segmentation?
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