Business segment

A business segment is a part of a company that can be identified by the products it provides or by the services or geographical locations it operates in. In other words, it a single part of a business that can be distinctly separated from the company as a whole based on its customers, products, or market places.

The business segment should be distinguished from the market segment, which is determined by marketing specialists, who distributes the population into groups based on socio-economic and psychological indicators. The business segment is the area of ​​activity, the direction of the company’s specialization, in which it receives and increases its competitive advantages.