as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the concept of customer segmentation
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customer segmentation is a process of dividing customers into distinct groups according to characteristics such as age, gender, location, interests, and purchase behavior. this process helps businesses to better understand different customer types so they can design more targeted marketing campaigns and develop customer-focused products and services.
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