Which of the following is the process of dividing a market into meaningful and distinct customer groups?
A) market targeting
B) segmentation
C) positioning
D) competitive advantage
E) differentiation

Question

Quizplus · Accepted Answer

Segmentation is the process of dividing a market into meaningful and distinct customer groups based on characteristics such as demographics, psychographics, behaviors, and needs. This helps companies tailor their marketing efforts and product offerings to better meet the specific needs and wants of each segment. Market targeting refers to the process of selecting one or more segments to focus on. Positioning is the process of establishing a unique image and identity in the minds of consumers for a brand or product. Competitive advantage and differentiation refer to the ways in which a company can stand out from its competitors, but do not specifically relate to the process of dividing a market into segments.

Which of the Following Is the Process of Dividing a Market