market segmentation

market segmentation
the division of a market into segments. Each segment consists of a group of consumers with similar requirements, which can be distinguished from the requirements of other consumers in the market. There will be distinct differences between the goods and services needed to meet the requirements of each segment. Glossary of Business Terms

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market segmentation UK US noun [C or U] MARKETING
the dividing of all possible customers into groups based on their needs, age, education, income, etc.: »

Market segmentation is the key to legal services

Financial and business terms. 2012.

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