Dividing a market into several sections of customers is known as ________.
A) mass customization
B) market positioning
C) market segmentation
D) value engineering
E) undifferentiated marketing

Question

Quizplus · Accepted Answer

Market segmentation involves dividing a mass market into smaller segments based on different criteria such as demographics, behavior, and psychographics. This allows companies to tailor their marketing efforts to specific customer groups, making their messages more relevant and effective. Mass customization involves creating customized products or services for individual customers, while market positioning involves how a company wants its brand to be perceived in the market. Value engineering involves finding ways to reduce costs without compromising product quality, while undifferentiated marketing involves treating the entire market as a homogeneous group without any segmentation.

Dividing a Market into Several Sections of Customers Is Known