The Incorrect option is Technology Oriented Segmentation Market segmentation: Market segmentation is a marketing, advertising, and sales approach in which companies divide their target market into smaller, more manageable groups based on common ground they share in order to optimise their marketing, advertising, and sales efforts.Important PointsBasis for market segmentation:Customer Based Segmentation: In this approach, customers are divided into smaller segments based on type of customers.Competition based Segmentation: In this type of market segmentation, the market is divided on the basis of the competitors. Both, direct and indirect competitors are taken into consideration. Product Related Segmentation: Product Related segmentation is the process of breaking a customer population into homogeneous groups depending on their relationships with the product, such as segmenting based on the benefits people seek when purchasing a product, usage rates for a product, or brand loyalty.Technology Oriented Segmentation is not a valid basis for segmentation.