Market segmentation divides the market into homogenous groups or segments.

Name: Market segmentation divides the market into homogenous groups or segments.
Brand: Quizplus
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Question

Market segmentation divides the market into homogenous groups or segments.​

Quizplus · Accepted Answer

Market segmentation involves dividing a broad target market into subsets of consumers who have common needs and priorities, and then designing and implementing strategies to target them. These segments are intended to be homogeneous within each segment and heterogeneous between segments, allowing for more tailored marketing strategies.

Market Segmentation Divides the Market into Homogenous Groups or Segments