Market Segmentation Definition
People are so different. Not two people in the world are the same and one specific marketing campaign can only be effective toward some people. That is why companies are adjusting their marketing campaign based on which people are they trying to touch the most. This is more less what market segmentation is.
Market segmentation is separating a market based on some sort of specific characteristics. For example you can target people between 18 and 23 years old. This would be your market segment and you could adjust your marketing campaign to that target group’s wishes.
As our “options” are growing so are our preferences and as time goes by, people are becoming more and more different. That is why market segmentation is becoming more important every day. Knowing your customers and making marketing campaign specially for them is a key to success.
Since title of this article is Market Segmentation Definition, let’s give a definition in the end: Market segmentation is a process in which in which we split our potential customers in more groups with goal of making marketing campaign targeting easier.
Written by: Matt
We also suggest this relevant article if you have time: Definition of Marketing Mix
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Tagged as market segmentation, marketing, marketing campaign, marketing segmentation, marketing segments, segmentation, target group, targeted marketing + Categorized as Economy articles, Marketing & PR