This setting only applies if you have checked the checkbox beside one or more product using the &lt;b&gt;Filter by Products&lt;/b&gt; tab on this same page.

The &lt;b&gt;EXACTLY&lt;/b&gt; option means that the customer must own exactly what is checked in the &lt;b&gt;Filter by Products&lt;/b&gt; tab. For example, if I want to target customers who have the SPBAS free version and have never purchased I would choose the &lt;b&gt;EXACTLY&lt;/b&gt; option. 

The &lt;b&gt;ANY&lt;/b&gt; option means the customer must own any of the products checked in the &lt;b&gt;Filter by Products&lt;/b&gt; tab. For example, if we want to announce a new release for SPBAS and want to notify anyone who has downloaded a copy of SPBAS we would check all SPBAS products in the &lt;b&gt;Filter by Products&lt;/b&gt; tab so everyone is notified.