What is Market Segmentation Marketing?

Learn Market Segmentation definition with explanation in marketing to review "What is Market Segmentation?" for online college classes. Learn market segmentation explanation with marketing terms to study for online MBA programs.

Market Segmentation Definitions

  1. Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



  2. Dividing a market into smaller segments with distinct needs, characteristics, or behavior that might require separate marketing strategies or mixes.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



Market Segmentation Explanation

Piece of the overall industry speaks to the level of an industry, or a market's complete deals, that is earned by a specific organization over a predefined time-span. Piece of the pie is determined by taking the organization's deals over the period and separating it by the complete offers of the business over a similar period. This measurement is utilized to give a general thought of the size of an organization in connection to its market and its rivals. An organization's piece of the pie is its bit of absolute deals in connection to the market or industry wherein it works. To compute an organization's piece of the overall industry, first decide a period you need to look at. It very well may be a financial quarter, year or numerous years. Next, compute the organization's absolute deals over that period. At that point, discover the all out offers of the organization's business.

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