Final answer:
When the total market is divided, one of its groups is called a market segment. The definition of the total market can greatly impact the perceived market share and concentration. The correct answer is option b.
Step-by-step explanation:
When the total market is divided, one of its groups is called a market segment. This concept is crucial in understanding market dynamics and devising targeted marketing strategies. For instance, although Microsoft had a dominant share of the software for computer operating systems in the early 2000s, it only commanded about 14% of the total market for all computer software and services in 2014. This illustrates how market definition can greatly influence perceived market share, with a narrowly defined market amplifying the appearance of concentration, and a broadly defined market making it appear smaller.