Explain in detail the three major ways an organization can divide their market. Why would organizations choose to do this?

There are a myriad ways an organization can segments its market. Some of the most commonly used are1. Age2. Economic-Educational Status3. Lifestyle Stage-Married/ Single/Divorced etc4. Various other psychometric segmentation methodologies including Values/Attitudes/Lifestyle segmentation etcWhile in marketing text books, all these types of segmentation tools are taught as discrete tools, most organizations would use some combination to segment their marketSegmentation is required in order to bring focus to any company's marketing and sales effort. A company segments its market in order to understand which set of consumers (basis the segmentation carried out) represents the best potential for its product in terms of sales and ultimately profit.