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The division of the market place into distinct subgroups. These groups are defined by particular characteristics, with each requiring a specific marketing strategy.
Segmentation in Marketing is also applied when buyers with identical product requirements are separated up into groups in order to procure alternative buyer prices.
Related terms
Loss leader, Strategic marketing concept, Pre-clinical trials, Mathematical analysis of perception and preference (MAPP), Inducements, Dog, Customised marketing mix, Double-blind trial, Research and development (R&D), Product attributes, Geo-demographics, Placebo effect, Contextual marketing, (Chartered) Institute of Public Relations (IPR), Long term value (LTV),
