Which feature of Salesforce Marketing Cloud allows for the segmentation of email lists?

The correct choice is Audience Builder because it is specifically designed for the segmentation of email lists within Salesforce Marketing Cloud. Audience Builder allows users to create dynamic segments based on multiple data attributes, such as demographics or behaviors, enabling targeted messaging and engagement strategies. Through its intuitive interface, marketers can model audience segments to ensure that communications are relevant and personalized.

While Contact Builder is also associated with managing and organizing data, it focuses more on data relationships and attributes rather than direct segmentation for email campaigns. Journey Builder, on the other hand, is utilized for creating personalized customer journeys based on users' interactions across various touchpoints, but it does not specifically deal with list segmentation. Email Studio, although essential for creating and sending emails, is focused more on the execution of email campaigns rather than the segmentation process. Thus, Audience Builder is the most suitable choice for the task of segmenting email lists efficiently.