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Analysis: Why rethinking demographics leads to better segmentation

Segmentation is core to many marketing functions. In fact, it is one of the first things we teach in undergraduate marketing courses, as part of the segmentation-targeting-positioning (STP) process we teach as an introduction to marketing strategy. The idea is quite intuitive; it is hard to please everybody with a single product or offer so, instead, we identify groups that share common needs (segment), choose one of them to focus on (target), and then create a product or offer that would appeal