The identification of distinct groups of consumers whose purchasing behavior differs from others in important ways is known as
A) market segmentation.
B) market penetration.
C) diversification strategy.
D) differentiation.

Question

Quizplus · Accepted Answer

Market segmentation refers to identifying distinct groups of consumers whose purchasing behavior differs from others in important ways. Markets can be segmented in numerous ways: by geography, demography, sociocultural factors, and psychological factors.

The Identification of Distinct Groups of Consumers Whose Purchasing Behavior