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Customer Segmentation Definition
Identifying groups of customers with homogeneous needs and behaviors to develop specific strategies.
Implications
The criteria and process used to define and categorize customer segments, often based on factors like demographics, purchasing behavior, or psychographics, essential for targeting and personalization efforts.
Example
Example: An online retailer defines its customer segments based on purchasing frequency, average order value, and product category preferences, enabling more targeted email marketing campaigns.
Related Terms
Different from segmentation analysis, which involves examining and understanding segments, segmentation definition is about setting up the criteria and categories for segmentation.
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