ABSTRACT
A large, heterogeneous market, is comprised of smaller groups with homogeneous preferences. Market segmentation is the practice of dividing a large heterogeneous market into smaller subgroups with shared characteristics in order to deliver a market offering that satisfies unmet needs as closely as possible. Since those within a segment have similar characteristics, marketers have found they respond similarly to a marketing strategy promoting a given product, at a certain price that is distributed in a particular fashion.
