What is Customer Segmentation?

The video explains customer segmentation, a process of grouping customers based on similarities to predict their behavior. It highlights the benefits of targeted marketing, which reduces costs and increases sales. The video discusses four main characteristics used for segmentation: demographic, geographic, psychographic, and behavioral. It concludes with the targeting process, where companies evaluate potential profits from segments to decide their marketing focus.

How can behavioral characteristics provide insights into customer segmentation?

What is the process of targeting in customer segmentation?