• A market segment is a group of people or

organizations sharing one or more characteristics

that cause them to have similar product and/or
service needs. A true market segment meets all of
the following criteria: it is distinct from other
segments (different segments have different needs),
it is homogeneous within the segment (exhibits
common needs); it responds similarly to a market
stimulus, and it can be reached by a market
intervention.
• Segmentation is the process of grouping
people or ogansiations within a market
according to similar needsd, characteristics or
behaviours.
• The division of a market into different homogenous
groups of consumers is known as market segmentation.

• A market segment should be:

• Measurable
• Accessible by communication and distribution channles
• Different in response to a marketing mix
• Durable {not changing too quickly}
• Substantial enoug to be profitable
• To get a product or service to the right person
or company, a marketer would firstly segment
the market, then target a single segment or
series of segments, and finally position within
the segment(s).