What is Market Segmentation? Types, Benefits & Best Practice Market segmentation is the process of dividing a broad target market into smaller, more manageable segments based on shared characteristics, behaviors, needs, or other relevant criteria. The purpose of segmentation is to enable businesses to better understand their customers, tailor their marketing efforts, and develop more effective strategies to meet the specific needs and preferences of each segment. https://marketgenics.co/2023/08/what-is-market-segmentation-types-benefits-best-practice/