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Preferred term

market segmentation  

Definition

  • Marketing segmentation is dividing a market into submarkets in which each submarket has different needs and wants and targeting these submarkets with different products. Sometimes products aimed at diverse segments are only slightly different, but enough to make buyers feel that they are purchasing products to satisfy their needs and wants better than an average product. [Source: Encyclopedia of Health Care Management; Market Segmentation]

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URI

https://concepts.sagepub.com/social-science/concept/market_segmentation

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