What is a market segment?
A)a target market
B)a group of individuals who have similar needs
C)a group who want to make an exchange
D)a group that buys because of market research

Question

Quizplus · Accepted Answer

A market segment refers to a group of individuals who have similar needs and characteristics in terms of what they are looking for in a product or service. This segment may be identified based on factors such as age, income, location, or interests, and can help businesses tailor their marketing efforts to better meet the needs of this specific group. Option A refers to a target market, which is a group of consumers or businesses that a company wants to reach with its products or services. Option C refers to the act of making an exchange, which is not specific to a particular group. Option D refers to a group buying because of market research, which is not a widely accepted definition of market segment.

What Is a Market Segment