Market Segmentation, advantages and its limitation, market segmentation has been classified on the basis of demographic, behavioristic, geographic and psychometric.

2. MEANING
• Market segmentation is a process of dividing buyers into various groups with a common need or want, into different classes on the basis of
region, age, sex, preference, habit, prejudice etc.
• Philip Kotler. “ The process of classifying customers into groups exhibiting different needs, characteristics or behaviour is called market
segmentation. Every market is made up of market segments.”

3. ADVANTAGES OF MARKET SEGMENTATION
• Significant increase in sales
• Proper market strategy
• Production according to needs
• Specialisation in management
• Information on market opportunities
• Adjustments to changing circumstances
• Beneficial to customers
• Beneficial to society
• Better use of resource
• Beneficial to small firms

4. LIMITATION OF MARKET SEGMENTATION
• Limited buyer in each segment, difficult to reap full advantage
• Expensive as special purpose machine is to be purchased if we separate market on this basis
• Different media of publicity is to be used
• Different market programmes for different segments makes the whole process complicated.