Business segment

A business segment is a market area protected from competitors in which a company can take a leading position.

A business segment should be distinguished from a market segment. It is defined by marketing specialists by dividing the population into groups based on socio-economic and psychological indicators. A business segment is an area of activity, a company's area of specialisation, in which it gains and increases its competitive advantages. For example, in insurance, a business segment can be life insurance or space risk insurance, in which certain companies are leading and confidently maintaining their positions. It depends on their efforts whether they will be able to maintain their leadership in these types of insurance for a long period of time.