Breaking down potential markets into homogeneous groups with similar characteristics and qualities is known as market segmentation.

Name: Breaking down potential markets into homogeneous groups with similar characteristics and qualities is known as market segmentation.
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Question

Quizplus · Accepted Answer

Market segmentation involves dividing a broad target market into subsets of consumers who have common needs and priorities, allowing businesses to tailor their marketing strategies effectively.

Breaking Down Potential Markets into Homogeneous Groups with Similar Characteristics