______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.
A) Market segmentation
B) Strategic planning
C) Mass marketing
D) Market positioning
E) Implementation

Question

Quizplus · Accepted Answer

The process described in the statement is market segmentation, which involves identifying different groups (segments) of consumers with similar needs or characteristics and developing marketing strategies that are tailored to each segment. Therefore, option A is the correct answer. Strategic planning is a broader concept that includes various aspects of planning for the long-term success of a company, including market segmentation. Mass marketing, on the other hand, involves targeting the entire market with a single marketing mix, rather than segmenting it. Market positioning involves creating a unique image for a product or brand in the minds of consumers. Implementation refers to the process of executing a marketing plan or strategy.

______________ Is the Process of Naming Broad Product-Markets and Then