The WAB, work area bar. Look it up in the help file.
If you wish to have discrete AV files for later editing, or combining, then Harm's Export with the WAB (Work Area Bar) is the way to go, and you can name the output files, as desired.
If you just want to have separate segments on the Timeline (you can also Rename those), Dbl-click on the main file in the Project Panel, to Open it in the Source Monitor. Set the In & Out Points for the first segment, and drag that to the Timeline. Now, reset the In & Out Points for the next segment, and drag that to the Timeline. You will have Instances of that main file, but each will only have the segment that you wish. You can have unlimited (well, there probably IS a ceiling somewhere, but it's unlikely that anyone will hit it) Instances of that main file, and each with a different In & Out Point.
Okay, I understood Bills suggestion and that was what I had done before asking for help. I assume I can then export that clip to an .avi file. (Have not got that far yet in tutorials)
I am not sure what Harm means by using the WAB. I checked help but did not find an answer that made sense. What should I search help for? Extracting clip, sequence etc. Thanks again for all the help.
Bills way is definitely one way to go.
Harm suggestion is short and to the point ( he is asking you to read up on WAB)
If you actually want a independent version of each segment of the source file you will need to export each segment as a clip in its own right.
Edit the segement > set the WANB ( Work Area Bar) over that segemnt in the timeline.
Export (WAB only.) via Adobe Media Encoder.
Make Subclips is you best bet...
Whether you make an In/Out point in your source monitor, or do it from your main timeline. Right click "make subclip".
The other suggestions are correct, but if you're looking to do this many times over, then perhaps this would be the better option...
Thanks to everyone for your help. Learned a great deal. Learned of the Creative Cow website which was great.
Have questions about workflow but will create a new post.
Thanks again for the great advice.