______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.
A) Market positioning
B) Market segmentation
C) Mass marketing
D) Diversification
E) Strategic planning

Question

Quizplus · Accepted Answer

This definition specifically describes the process of market segmentation, which involves breaking down broad product-markets into smaller, more defined segments in order to better target and serve specific groups of customers with tailored marketing strategies. Market positioning relates more to how a particular product or brand is perceived and positioned in relation to its competition, while mass marketing implies targeting a broad, undifferentiated market. Diversification and strategic planning may be part of the overall process, but do not specifically refer to the described process of naming and segmenting product-markets.

______________ Is the Process of Naming Broad Product-Markets and Then