Which of the following is NOT a form of integration?

The correct answer is that market segmentation is not a form of integration. Integration in a business context refers to the strategies that companies use to consolidate their operations or expand their control over the supply chain or market.

Horizontal integration occurs when a company acquires or merges with competitors at the same level of the supply chain, thereby increasing its market share and reducing competition. This can lead to economies of scale and increased market power.

Backward vertical integration involves a company taking control of its supply chain by acquiring or merging with suppliers. This allows the company to secure its sources of raw materials, reduce costs, and gain greater control over production processes.

Forward vertical integration occurs when a company expands its control by acquiring or merging with distributors or retailers. This enables the business to have better control over its product distribution and enhance customer access to its products.

Market segmentation, on the other hand, refers to the process of dividing a broader market into smaller segments of consumers with shared needs or characteristics. It is a marketing strategy aimed at effectively targeting different groups of customers rather than a structural change in the way a business operates or integrates with other firms in its industry. Thus, it does not fall under the category of integration.