The process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior who might require separate products or marketing programs is called ________.

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Market segmentation is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior. This is a crucial step in developing a successful marketing strategy because it allows companies to tailor their products or marketing programs to specific groups of customers. Market targeting, differentiation, and positioning are all important components of a marketing strategy, but they come after market segmentation has been completed.

The Process of Dividing a Market into Distinct Groups of Buyers