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Customer segmentation helps businesses target their marketing efforts more effectively from "summary" of Data Science for Business by Foster Provost,Tom Fawcett
Customer segmentation is a critical concept in marketing that involves dividing customers into groups based on certain characteristics or behaviors. By segmenting customers, businesses can tailor their marketing efforts to better meet the needs and preferences of each group. This ultimately allows businesses to target their marketing efforts more effectively, leading to increased sales and customer satisfaction. One common approach to customer segmentation is to group customers based on demographic information such as age, gender, income, and location. This type of segmentation can help businesses understand the different needs and preferences of various customer groups. For example, a company selling baby products may want to target young parents with newborns, rather than older customers without children. A...
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