Market involves aggregating prospective buyers into groups, or segments, that have common needs and will respond similarly to a marketing action.

The process you're referring to is known as "Market Segmentation". Here are the steps involved:

1. Identify and define the market: The first step in market segmentation is identifying the overall market that the company wants to target. This could be a broad market like "automobile buyers" or a more specific market like "luxury car buyers".

2. Identify potential market segments: Once the overall market is defined, the next step is to identify potential market segments within that market. These segments could be based on a variety of factors, including demographic, geographic, psychographic, and behavioral characteristics.

3. Evaluate the potential market segments: After potential market segments have been identified, the next step is to evaluate these segments to determine their viability. This involves looking at factors like the size of the segment, its growth potential, its profitability, and the company's ability to serve this segment effectively.

4. Select target market segments: Based on the evaluation, the company then selects the market segments that it wants to target. These are the segments that the company believes it can serve most effectively and profitably.

5. Develop marketing strategies: Once the target market segments have been selected, the company develops marketing strategies to reach these segments. This could involve developing different products for different segments, or using different promotional strategies for different segments.

6. Implement and monitor: The final step is to implement the marketing strategies and monitor their effectiveness. This involves tracking sales, customer feedback, and other metrics to see if the strategies are working and to make adjustments as necessary.