Here is several terminology about market;
- Mass market: there is no specific segmentation for a company that follows the mass market elements as the organization displays a wide view of potential clients.
- Niche market: customer segmentation based on specialized needs and characteristics of its clients.
- 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 market: for a smooth day-to-day business operation, some companies will serve mutually dependent customer segments.