What is Market Segment in Marketing?
A Market Segment is a group of customers who share similar needs and characteristics. In other words, the segment is the large homogeneous group of customers who share similar needs and characteristics.
Similarly, segment means part of the total segment based on similar needs, preferences, and wants.
Common characteristics of a segment consist of interest, age, lifestyle, taste, gender, etc. In an organization, the marketing team works very hard to find out the segment for their product and services.
Other Important Links
a. Meaning of segmentation: CLICK HERE
b. Process of segmentation: CLICK HERE
c. The benefits of segmentation: CLICK HERE
d. SWOT analysis and examples: CLICK HERE