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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describe the importance of customer segmentation.
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customer segmentation is a process of dividing customers into meaningful and distinct groups based on certain characteristics, such as industry, demographic, geographic, interests, etc. it is important for businesses to have information on their customers to understand their needs, tailor their offerings, and effectively target their marketing activities. additionally, segmentation can help businesses to assess their return on investment. by segmenting their audiences, businesses gain better insights into their customers and are better able to craft strategies to better engage them.
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