This document discusses various concepts related to target marketing and segmentation. It defines target marketing as identifying customer groups that a product is best suited to meet the needs of. A market segment is a large, identifiable group with similar characteristics. Niche marketing focuses on a distinct set of needs that can be profitably served without much competition. Local and individualized marketing alter the marketing mix to suit specific local conditions or individual customers. Common bases for segmentation include geographic, demographic, psychographic, and behavioral factors. Undifferentiated marketing uses one product and marketing approach for all, while differentiated marketing tailors separate offerings and programs for each segment.