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Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...
Market segmentation is a process, in which groups of buyers within a market are divided and profiled according to a range of variables, which determine the market characteristics and tendencies. [2] The S-T-P framework implements market segmentation in three steps: Segmenting means identifying and classifying consumers into categories called ...
In digital image processing and computer vision, image segmentation is the process of partitioning a digital image into multiple image segments, also known as image regions or image objects (sets of pixels). The goal of segmentation is to simplify and/or change the representation of an image into something that is more meaningful and easier to ...
Segmentation: refers to the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) [25] Targeting : refers to the selection of a segment or segments that will become the focus of special attention (known as target markets ).
This process is known as micromarketing, cyber-segmentation or hyper-segmentation. In effect, this allows to the marketer to pursue both a differentiated marketing strategy and a niche marketing strategy to reach the smallest groups in the marketplace. [35]
Industrial market segmentation is a scheme for categorizing industrial and business customers to guide strategic and tactical decision-making. Government agencies and industry associations use standardized segmentation schemes for statistical surveys. Most businesses create their own segmentation scheme to meet their particular needs.
VALS (Values and Lifestyle Survey) [1] is a proprietary research methodology used for psychographic market segmentation. Market segmentation is designed to guide companies in tailoring their products and services in order to appeal to the people most likely to purchase them.
Audience segmentation is a process of dividing people into homogeneous subgroups based upon defined criteria such as product usage, demographics, psychographics, communication behaviors and media use. [1] [2] Audience segmentation is used in commercial marketing so advertisers can