6. Market segmentation is the process of breaking down large markets into smaller needs and characteristics
For examples high school males
Companies need to identify a market before production so they can gather as much information as possible to ensure success of the product or service
Market Share is the position the product or service holds in the total market
Geographic segmentation is the division of markets based on its location and the living habits of the people in that location

7. Market Segmentation Define Market Segmentation
-Use pg of the handout and the previous notes to answer the following questions:
Define Market Segmentation
Why must a company segment the market and define a target market before developing or mass-producing products?
Define Market Share
Why is it important for a company to try and increase its market share?
Define Geographical Segmentation
What factors play a role in geographic segmentation
Explain their role
Define Psychographics.

8. Your Work Research a product that failed Get a picture In a paragraph:
What was its market
Why was the product launched… its niche
Why did it fail