________is the process of dividing the total market for a good or service into several smaller groups such that the members of each group are similar with respect to the factors that influence demand.
A) Market segmentation
B) Market aggregation
C) Diversification
D) Market development
E) Product development

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, improving the effectiveness of marketing efforts.

________Is the Process of Dividing the Total Market for a Good