Is segmentation a theory? Improving the theoretical basis of a foundational concept in business-to-business marketing

Despite segmentation's importance for marketing in general and the extensive research published on the topic over several decades, business-to-business segmentation is still not fully developed as a general theory—a status that may decrease academic interest in the field. Based on a recent contribution on the definition and typology of theory, this paper explores the degree to which segmentation can be considered a theory and, more specifically, which elements and perspectives are currently underdeveloped. We highlight some fundamental challenges that must be addressed to establish a better theoretical foundation for segmentation's evolution into a more developed theory. We also present questions for future research to guide the advancement of business-to-business segmentation, which is necessary for a concept so central to business-to-business marketing.