Market Segmentation of a product?

[Pranjal]

Any ideas on segmenting the market of a product??? any product??
with a complete segmented flow chart.
but the segmentation must be on any basis..


For example,
let the product be a BAG

segmentation on the basis of USE-

-Formal use
....-school bag
...........-buckle
...........-zipper
...........-side bag
....-college bag
...........-side bag
...........-carry bag
...........-hand bag
....-work place
...........-brief case
...........-folder bag

-Informal use
....-casual
...........-purse
...........-wallet
...........-hand bag
....-outings
...........-picnic bag
...........-suitcase
...........-zipper

-Other uses
....-hygienic bag
....-plastic bag
....-poly bag
....-jute bag


Would u suggest anything better???