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I usually explain that 'Knowing Your Customers' consists of Customer Segmentation & Customer Persona. As part of your brand positioning, you will need to understand WHO are the potential customers who need the solution (Product) offered by your brand.
When we define our customers according to certain traits or categories, we are segmenting our market. Then, we create the buyer or customer persona for a better understanding of their pain points in order to formulate or improve our marketing strategies.
This is the space for you to discuss further related to this topic.