Market segment – n : a portion of a business’s total potential market for its product or service, comprised of customers with similar interests, needs and buying patterns with respect to the product.(see also market segmentation)

Example: Logical market segments for the manufacturers of woodworking tools (such as drills, table saws and lathes) might include amateur do-it-yourselfers, serious woodworking hobbyists, professional carpenters, finish carpenters, and professional cabinet-makers. Different manufacturers and retailers of woodworking tools tend to focus on different market segments – while some offer inexpensive tools appealing to amateurs, others tend to focus on high-end, less price-sensitive users with more expensive, feature-rich products.

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Adapted from "The CompanyCrafters Entrepreneur's Dictionary"
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