A market in which a large proportion of customers have similar needs for a product is called a(n)____ market.
A) undifferentiated
B) heterogeneous
C) homogenous
D) differentiated
E) concentrated

Question

Quizplus · Accepted Answer

A homogenous market is one where customers have similar needs and wants for a particular product or service. This allows for mass marketing strategies to be employed, as there are fewer variations in customer preferences to account for. Undifferentiated and differentiated markets refer to different levels of product differentiation, while heterogeneous and concentrated markets refer to the diversity of customer needs and preferences.

A Market in Which a Large Proportion of Customers Have