Company ABC is interested in better understanding how different groups of customers feel about its product.In order to do this, Company ABC will need to
A) position its product in the market.
B) segment the market.
C) mass market.
D) target market.

Question

Quizplus · Accepted Answer

Market segmentation is the process of dividing a market into distinct groups of consumers with similar needs and wants. This allows companies to target their marketing efforts more effectively and efficiently.

Company ABC Is Interested in Better Understanding How Different Groups