Activities of market segmentation are: 1. Defining the market to be segmented. 2. Identifying market segments 3. Forming market segments 4. Finer segmentation strategies 5. Selecting the segmentation strategy MARKET TARGETING The market targeting options include a single segment, selective segments, or extensive segments. When segments are not clearly defined, product specialization or product variety strategies can be used. Market targeting decisions need to take into account product-market life cycle stage. In emerging market stage risk and uncertainty is too high, in growth stage benefits from prior experience but it is more intense than emerging stage, and in mature stage multiple targeting strategies can be done such as product variety or product specialization.