The process of classifying customers into distinct groups with similar needs, characteristics, or behaviour is known as:

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Market segmentation is the process of dividing customers into specific groups based on similar characteristics or needs. It helps businesses create targeted marketing strategies and better understand their customers' preferences. Market positioning refers to how a business presents its products or services to the target market. Market development and aggregation are related to expanding the market reach and size, while market targeting is the selection of a particular customer group to focus marketing efforts.

The Process of Classifying Customers into Distinct Groups with Similar