Segmentation is the process of classifying consumers of a product or service into identifiable groups that have similar needs, wants, or demand characteristics. Market segmentation assists in meeting the demand and expectations of the different consumers. (Wedell, 2000). There various types of market segmentation that a business can apply to increase its market share. Boost juice bar has mainly concentrated on psychographic and behavioral segmentation. In psychographic segmentation, the business analyzes the lifestyles, values and beliefs of the targeted customers towards the products and services they supply.It is based on the analyses of the activities ,desires and opinions of Continue reading...
