Market segmentation means dividing the total market for a product into different parts i.e. segments on certain bases and using each segment fully for the purpose of marketing and sales promotion. Discuss the five requirements for an organization to carry out effective segmentation? Briefly describe the four major steps in designing a customer-driven marketing strategy with the use of a local example?

Five requirements are: Measurable, Accessible, Substantial, Differential, and Actionable.

Four major steps are: Market segmentation, Market targeting, Differentiation and Positioning