Definition : Customer segmentation

Customer segmentation refers to the process of dividing a company’s target market into distinct groups based on shared characteristics, behaviors, and needs. This allows businesses to better understand and cater to the unique preferences and purchasing patterns of different customer segments, ultimately leading to more effective marketing strategies and improved customer satisfaction. By segmenting customers, companies can tailor their products, services, and messaging to specific groups, increasing the likelihood of attracting and retaining loyal customers. This strategic approach to understanding and targeting different segments of the market is crucial for businesses looking to stay competitive and meet the diverse needs of their customers.

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