Peter is starting a new business. He has to develop a marketing strategy by identifying similar characteristics, attributes, and behaviors of the target market, and then group the customers according to these characteristics, attributes, and behaviors. The term used to describe Peter's strategy is:
A)market sharing.
B)customer relationship management.
C)cognitive dissonance.
D)market segmentation.

Question

Quizplus · Accepted Answer

Peter's strategy involves identifying and grouping customers based on their similar characteristics, attributes, and behaviors. This is known as market segmentation, where the market is divided into smaller, more homogeneous groups of customers based on their needs and behaviors. This allows for the development of targeted marketing strategies that are more effective in reaching and satisfying the needs of each segment. Market sharing, customer relationship management, and cognitive dissonance are not relevant to Peter's strategy.

Peter Is Starting a New Business