Definition : Product segmentation

Product segmentation is a marketing strategy that involves dividing a company’s products into distinct categories based on specific characteristics or consumer needs. This allows businesses to tailor their products and marketing efforts to different target audiences, maximizing their reach and appeal. By segmenting products, companies can better understand their customers’ preferences and behaviors, and create more effective and targeted marketing campaigns. This approach helps businesses to stand out in a crowded market and increase their sales and profitability.

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