As we know, different car manufacturers target very different customer groups. Toyota, for example, usually targets middle-income people who are looking for vehicles with good value for money. When people think of Toyota, they think of durability, quality, safety and reliability.

In contrast, Mercedes Benz always targets upper-class drivers who value luxury, style and social class. Mercedes Benz is a brand that evokes images of luxury, wealth and success. For many people, owning a Mercedes is a status symbol, a way to show the world that they have made it.

Market segmentation allows companies to target those people who are most likely to become satisfied customers of their products or services. So what is market segmentation and how is it implemented? What are its main types, examples, advantages and limitations? In this video, I will discuss these questions with you.

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