The process of identifying a group of people similar in one or more ways is called:
A) Market research
B) Target marketing
C) Market analysis
D) Market segmentation
E) None of the above.

Question

Quizplus · Accepted Answer

Market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics. This approach helps businesses tailor their marketing efforts and products to specific groups more effectively.

The Process of Identifying a Group of People Similar in One