What is the present 24X7 concept prevailing in the Retail Market segment & Shopping?

Retail Marketing deals with identifying and meeting human and social needs. Retail marketing is typically seen as the task of creating promotion and delivering goods and services to retail consumers. The marketer has two options to satisfy the consumers’ needs – first he should approach to all customers with identical marketing approach or adopt a differentiated approach for different sets of customers. The first approach in the world of retailing is known as mass marketing, the latter is turned as market segmentation. This chapter is an attempt to discuss the concept of market segmentation and highlights the criteria for market segmentation to gain competitive advantage.