Which of the following terms refers to a group of consumers who respond similarly to a firm's marketing efforts?
A)Market segment
B)Targeting
C)Product line
D)Market penetration
E)Market positioning

Question

Quizplus · Accepted Answer

A market segment refers to a group of consumers who share similar characteristics and respond similarly to a firm's marketing efforts. This allows firms to tailor their marketing mix to meet the specific needs and wants of the segment, increasing the effectiveness of their marketing strategy. Targeting is the process of selecting which segments to focus on, product line refers to a group of related products, market penetration refers to the growth strategy of increasing market share in an existing market, and market positioning refers to a firm's efforts to create a unique image and identity for its products or brand in the minds of consumers.

Which of the Following Terms Refers to a Group of Consumers