The process of dividing a market into distinct subsets of consumers with common needs or characteristics and selecting one or more segments to target with a distinct marketing mix.
The strategy of segmentation allows producers to avoid head-on competition in the marketplace by differentiating their offerings, not only on the basis of price, but also through styling, packaging, promotional appeal, method of distribution and superior service.
Market segmentation benefits both sides of the marketplace and hence marketers of consumer goods are eager practitioners of segmentation strategy
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