Customer Segment

• Definition: The segment(s) of clients that are addressed by the value proposition; • Mass Market: There is no specific segmentation for a company that follows the Mass Market element as the organization displays a wide view of potential clients. e.g. Car • Niche Market: Customer segmentation based on specialized needs and characteristics of its clients. e.g. Rolex • Segmented: A company applies additional segmentation within existing customer segment. In the segmented situation, the business may further distinguish its clients based on gender, age, and/or income. • Diversify: A business serves multiple customer segments with different needs and characteristics. • Multi-Sided Platform / Market: For a smooth day-to-day business operation, some companies will serve mutually dependent customer segment. A credit card company will provide services to credit card holders while simultaneously assisting merchants who accept those credit cards.