Market segmentation

Market segmentation is the identification of specific groups (or segments) of customers who respond to competitive strategies differently from other groups. See also Market positioning.

Definitions

According to the Corporate Strategy by Lynch (4th edition),

Market segmentation. The identification of specific groups (or segments) of customers who respond to competitive strategies differently from other groups. See also Market positioning.

According to Product Manager's Handbook by Gorchels (2nd edition),

Market segmentation. The process of breaking a group of potential customers into smaller, more homogeneous subsets.

According to the Strategic Management by David and David (15th edition),

Market segmentation. The marketing technique of subdividing consumers into distinct subsets according to needs and buying habits in order to more effectively and economically direct marketing efforts.

According to the ASME EMBOK,

Market Segmentation. Dividing the market base into homogenous groups in order to strategically target market activities.