Milton is the sales manager of a cosmetics company that offers a wide range of face creams, lipsticks, and eye makeup. some of the products are sold to wholesalers and distributors, while others are sold directly to end-users. milton decides to divide his company's vast customer base into distinct segments so that the company's salespeople can specialize in one line of business only. to carry out this process, it is necessary for milton to possess sound _____.

To carry out the process of dividing the company's vast customer base into distinct segments, it is necessary for Milton to possess sound market segmentation skills. Market segmentation involves understanding and categorizing the customer base into distinct groups that have common characteristics or needs. Each segment can then be targeted with specific marketing strategies and sales tactics that are most likely to resonate with the members of that group. It also requires analysis of customer behavior, preferences, demographics, and purchasing patterns.

Market segmentation is a crucial concept in marketing that allows a business to tailor its approach to different groups within its market. The aim is to be more efficient by addressing the specific needs and desires of each segment. Here are some common ways to segment a market:

1. Demographic Segmentation: This involves dividing the market based on demographic variables such as age, gender, income, education, occupation, and family size.

2. Geographic Segmentation: This divides the market based on geographical boundaries like cities, regions, countries, or even neighborhoods.

3. Psychographic Segmentation: This approach looks at psychological/personality traits, lifestyle, or values of consumers.

4. Behavioral Segmentation: Here, the division is based on behaviors such as purchasing habits, brand loyalty, product usage rate, and the stage in the buying process (awareness, knowledge, liking, preference, conviction, and purchase).