Market segmentation is a basic tenet of marketing that has long been ignored by SEOs. And that's okay, because for a long time working on the keyword-level of abstraction was enough. In fact, you can still do SEO and marketing in any other channel without ever having the idea of market segmentation cross your mind despite (not provided), Hummingbird, and a whole host of changes Google is forcing as of late.
That is… if you enjoy 0.04% conversion rates. Right.