Chapter 7

Today's topic of discussion was Market Segmentation, which before reading this chapter I had no idea what that meant.  Well, market segmentation is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar needs.  Market Segmentation makes it possible to tailor markets to meet the needs of specific segments.  It helps define customers needs and wants more precisely and objectives can better be evaluated.  There are several bases for segmentation, including geography, age, gender and ethnicity.