The seven-step approach to market segmentation begins to consider whether a particular group can be profitable to the firm in Step 1-and that is a major consideration throughout all seven steps.

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The seven-step approach to market segmentation typically starts with identifying the broad market or category your business intends to serve, not with profitability, which is considered but not as the primary focus in the initial step. Profitability is a crucial factor but is assessed more thoroughly in later steps after potential segments are identified and understood.

The Seven-Step Approach to Market Segmentation Begins to Consider Whether