Market segmentation

This refers to the technique of breaking down customers and potential customers into groups based on some common characteristic.

Market segmentation enables companies to focus their marketing strategies on a smaller target group, rather than attempting to meet the needs of every kind of customer with a single approach. For example a car hire company will address the needs of the corporate fleet market in a different way to the way it addresses the domestic leisure hire market.

Marker Segmentation Business

Market segmentation is a term normally found in strategic management.

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