________ is the process of dividing the firm's total customer base into homogeneous clusters in a way that allows management to formulate unique marketing strategies for each group.

Question

Quizplus · Accepted Answer

Market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics. This approach helps in tailoring marketing strategies to specific groups.

________ Is the Process of Dividing the Firm's Total Customer