Market segmentation is the process of

Question

Quizplus · Accepted Answer

Market segmentation is the practice of dividing a larger, diverse market into smaller, more homogeneous groups of consumers who have similar needs, preferences, and behaviors. The idea behind market segmentation is to enable businesses to better tailor their marketing efforts and products to specific groups of consumers, thereby increasing sales and profits. Choice (C) is the best answer as it accurately describes the practice of segmenting a large, heterogeneous market into more manageable and homogeneous submarkets.

Market Segmentation Is the Process of