Victoria's Secret and their teenage brand Pink are examples of market segmentation. Victoria's Secret primarily targets women with their main line, while Pink targets teenage girls and younger women. The Pink brand has differentiated products and pricing focused on the younger demographic. Victoria's Secret also segments their market by income level, targeting more affluent customers able to spend on lingerie products priced in the mid-range. Market segmentation involves dividing the market into distinct groups based on characteristics like age, income, location, or behaviors.