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Market segmentation divides the complete market set-up into smaller subsets comprising of consumers with a similar taste, demand and preference. Market Segmentation : Meaning, Definition, Bases, Importance, Examples, Levels, Strategies, Criteria and Benefits Market Segmentation – Meaning Market segmentation is the method for achieving maximum market response from initial marketing resources by recognizing differences in the response characteristics of various parts of the market. In this sense market segmentation is the strategy of divide and conquer, i.e., dividing market in order to conquer them. In marketing, market segmentation or customer segmentation is the process of dividing a consumer or business market into meaningful sub-groups of current or potential customers (or consumers) known as segments. [1] Segmentation is the process of dividing the market into parts that are suitable for targeting by a company. Learn the criteria and benefits of segmentation in marketing, with examples and related terms.
