A distinct subset of people with similar needs,circumstances and characteristics that lead them to respond in a similar way to a particular product or service offering is known as a:

Question

Quizplus · Accepted Answer

A market segment refers to a group of consumers who share common characteristics and needs, making them more likely to respond similarly to a particular product or service offering. This allows for more targeted and effective marketing strategies. Target market refers to the specific group of consumers that a company aims to reach with a particular product or service offering. Penetrated market refers to the portion of this target market that the company has already successfully reached. Marketing mix refers to the various elements that make up a company's marketing strategy (product, price, promotion, and place).

A Distinct Subset of People with Similar Needs,circumstances and Characteristics