Search Engine Marketing

Market Segment

Market segmentation is a concept used both in economics and marketing to describe an identifiable group of individuals, families, ethnic or social groups, businesses, companies and organisations that share one or more characteristics and/or needs within an otherwise homogenous market.

In marketing, a market segment, as an aggregate of similarly minded prospective buyers, is generakky understood to have common needs and to therefore respond similarly to a marketing action. In this way, market segmentation allows a company to analyse, define and then specifically target different categories of consumer in order to better serve - or sell to - them.