The conception of market segmentation relies on the very fact that the markets of commodities aren't homogeneous however they're heterogeneous. Market represents a gaggle of shoppers having common characteristics however two customers are never common their nature, habits, hobbies, financial gain and buying techniques. They dissent in their behavior and shopping for selections.
On the premise of those characteristics, customers having similar qualities are classified in segments. Market segments are the groups of customers in keeping with such characteristics as financial gain, age, gender, acquirement and alternative social, demographic, cultural and geographical factors.Whenever a market for a product or service consists of two or more buyers , the market is capable being segmented , that is divided into meaningful buyer groups. The purpose of segmentation is to determine differences among buyers which may be consequential in choosing a way of marketing to them
