Market Segmentation
Market segmentation is the process of dividing a market into groups of consumers who differ from one another based on sensitivities, needs and preferences. ... Market segmentation has long been considered one of the most fundamental concepts in marketing. Ever since the publication of the seminal article by Wendell Smith [1], market segmentation has become a dominant concept both in marketing theory and in real-world applications[2, 3,4]. ... Market segmentation is the process of dividing a market into distinct groups of buyers with similar requirements.