The technique that is used by marketers to get a hold on the diverse nature of markets is called which of the following?
A)Positioning
B)Market segmentation
C)Psychographics
D)Targeting

Question

Quizplus · Accepted Answer

Market segmentation is the technique used by marketers to identify and target specific groups of consumers within a larger market. This involves dividing the market into smaller segments based on factors like demographics, geography, psychographics, behaviour, and needs. This helps marketers to customize their marketing mix and strategies to better appeal to the specific needs and wants of each segment. Positioning refers to how a brand is perceived in the minds of consumers relative to its competitors, while psychographics refers to the study of personality, attitudes, interests, and values of consumers. Targeting is the process of selecting which segment(s) to target with a marketing campaign.

The Technique That Is Used by Marketers to Get a Hold