market segment

Definition

A group of consumers that share multiple characteristics, such as demographics, behavioral propensities, psychographic similarities, geographic relationships with unmet or underserved needs, that is large enough, and accessible enough to present a viable marketing opportunity for a business.

Use market segment in a sentence

The market segment was mentioned during the meeting with the marketing manager as there was a specific niche we were targeting.

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My boss wanted me to learn all I could about millennials to help our company understand our new largest market segment in the future.

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I'm almost certain that the preteen market segment's generally the only demographic willing to buy decorative lanyards for their cell phones.

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