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Small business owners, who are trying to define who they can sell their product or service to, will need to understand their market segment. Market segmentation is defined one of the steps that goes into defining and targeting, specific markets. It is the process of dividing a market into a distinct group of buyers and understanding, that each group will require different products or marketing mixes. The way to stay competitive in today's market is the ability of any business to find the subtle differences to give a business the marketing edge. Businesses that target specialty markets will promote its products and services, more effectively than a business that is only aiming at the "average" customer. This is especially true for a small business that may possess limited marketing resources.
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