Modern marketing in industrialized countries cannot do without segmentation of the potential market. Goods can no longer be produced and sold without considering customer needs and recognizing the heterogeneity of those needs. Since the concept emerged in the late 1950s, segmentation has been one of the most researched topics in the marketing literature. It has become a central concept in marketing, both in theory and in practice.
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Michel Wedel (1957) is Professor of Marketing Research at the Department of Economics, University of Groningen, The Netherlands.
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