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Segmenting a market has widely been debated over the years as researchers have argued over what variables to consider when dividing the market. Approaches through social, economic and individual factors, such as brand loyalty, have been considered<ref>{{Cite book|title = Marketing, Planning and Strategy|last = Jain|first = S C|publisher = South-Western Publishing Co.|year = 1993|isbn =|___location = Cincinnati, OH, United States|pages =}}</ref> along with the more widely recognized geographic, physiographic, demographic and behavioral variables proposed by Philip Kotler.<ref>{{Cite book|title = Marketing Management Analysis, Planning, Implementation, and Control|last = Kotler|first = Philip|publisher = Prentice Hall International|year = 1997|isbn =|___location = New Jersey|pages =}}</ref> Segmenting a market therefore, is a process of ''organising'' the market into groups that a business can gain a competitive advantage in. They must, however, avoid over-fragmenting the market as the diversity can make it difficult to profitably serve the smaller markets.<ref name=":1">{{Cite book|title = Business to Business Marketing|last = Vitale|first = Robert|last2 = Giglierano|first2 = Joseph|publisher = South-Western publishing|year = 2002|isbn =|___location = Mason, Ohio|pages =}}</ref> The characteristics marketers are looking for are measurability, accessibility, sustainability and actionability.
* Measurability – The understanding of size, purchasing characteristics and value needs of a particular segment
* Accessibility – The ability to communicate with the segment in an effective manner
* Sustainability – The segment is profitable enough to differentiate itself from other segments in the market and ''maintains'' the value the business offers.
* Actionability – The capability of an organization to create a competitive advantage with its offering in the specific segment of the market<ref name=":1" />
There are two approaches to segmenting a market – a discovery approach or an analytic approach. Each approach is appropriate to the type of business and market they are approaching.<ref name=":2">{{Cite book|title = Marketing: Defined, Explained, Applied|last = Levens|first = Michael|publisher = Pearson Education Inc.|year = 2012|isbn =|___location = New Jersey|pages =}}</ref>
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