The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors is called ________.
A)market targeting
B)positioning
C)marketing strategy
D)market segmentation
E)market extension

Question

Quizplus · Accepted Answer

The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors is called market segmentation. This is a crucial step in developing an effective marketing strategy as it helps businesses identify and target specific groups of consumers who are most likely to be interested in their products or services. Market segmentation is typically based on factors such as demographic, geographic, psychographic, and behavioral characteristics of consumers.

The Process of Dividing a Market into Distinct Groups of Buyers