A number of Commerce Reference Store pages display different content depending on the segments a customer belongs to. These pages include:
/atgsearch/atgSearchResultsContainer.jsp
/browse/categoryDisplay.jsp
/browse/gadgets/productHotSuggestion.jsp
/browse/subcategoryDisplay.jsp
/emailtemplates/gadgets/backInStockNotify.jsp
/navigation/gadgets/homePromotions.jsp
/promo/gadgets/homeFeaturedProducts.jsp
/search/searchResults.jsp
All of these pages implement content targeters that define different content for different user segments. See Using Targeters, Slots, and Scenarios to Personalize Content for more details.