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Segmentation
Segmentation

Segmentation is the process of dividing markets into groups of potential customers with similar needs. The purpose of doing this is to enable the firm to channel its scarce resources towards those who are most likely to benefit from the firm's products. Segmentation is closely linked with targeting, which is the act of choosing which segments to offer a product to.

Segmentation operates at four levels: mass marketing, segmented markets, niche marketing, and micromarketing. Mass marketing is almost impossible to achieve in the modern world, simply because the ‘one size fits all’ products are either already well established, or have no market ...

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