Market Segmentation
Grouping potential customers into market segments that share demographic and psychographic characteristics, so a business can see what each group needs.
Often Confused With
- Customer Profile
- A profile personifies one customer; segmentation sorts a whole market into groups.
- Target Customer
- Segmentation produces the groups; target customers are the one or more groups a business then chooses to pursue.
Taught In
See Also
2.1.B.1