Final answer:
Geographic segmentation involves dividing markets based on regions to understand consumer preferences and behaviors better.
Explanation:
Geographic segmentation involves dividing a market based on regions, such as selling more rainwear in Seattle than in San Diego due to annual rainfall differences. This type of segmentation recognizes the impact of geographical factors on consumer preferences and behaviors.
Geodemographics combines location data with attributes of people living in a specific area to make marketing predictions and target specific groups effectively. It helps businesses understand consumer behavior based on geography and demographic information.
Market segmentation can also consider factors like lifestyle, family life cycle, and perceived benefits, providing companies with insights to tailor their marketing strategies to different consumer segments efficiently.
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