Group of very specific customers that a company desires to have as consumers.

Single marketing plan to reach all consumers – Ex: bottled water.

Groups of unique individuals that share common characteristics.

Dividing the entire market into smaller groups that share common characteristics & to create a target market – niche market would be an example.

Market segmentation according to age, race, religion, gender, family size, ethnicity, income, and education.

Collecting and analyzing information according to the physical location of the customer or other data source.

Dividing your market based upon consumer personality traits, values, attitudes, interests, and lifestyles.

1. type of market segmentation based on differences in the consumption behavior of different groups of consumers, taking into account their lifestyles, patterns of buying and using, patterns of spending money and time, and similar factors.