Market Segmentation

Posted in Marketing and Strategy Terms, Total Reads: 1316

Definition: Market Segmentation

Market segmentation is the process of identifying a set of consumers with similar needs and wants and catering to the product specifics as per the group.

Once the company has performed segmentation , it can provide a better value proposition , gain a stronghold on the share and build loyalty with that particular segment of the market. In other words it can be said that it is way of focus on the most profitable area from the entire universe of consumers.

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