MANAGEMENT

Detailed explanation-1: -Market segment: a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. Market segmentation: the process of dividing a market into meaningful, relatively similar, identifiable segments or groups.

Detailed explanation-2: -A market segment is a group of people who share one or more similar characteristics. Corporations and marketing teams use various criteria to develop target markets for their products and services.

Detailed explanation-3: -Demographic, psychographic, behavioral and geographic segmentation are considered the four main types of market segmentation, but there are also many other strategies you can use, including numerous variations on the four main types. Here are several more methods you may want to look into.

Detailed explanation-4: -A market is defined as having four imperative characteristics: people or organizations, needs and wants, ability to buy, and willingness to buy.