Dividing a market into similar groups on the basis of their locations is known as ______ segmentation.
A) demographic
B) geographical
C) psychographic
D) product-related

Question

Quizplus · Accepted Answer

Geographical segmentation involves dividing the market into different groups based on their geographic location, such as by country, region, city, or climate. This is particularly useful for businesses that are targeting customers in specific geographic areas, or for businesses that want to tailor their marketing messages to the needs and preferences of customers in different regions. Demographic segmentation involves dividing the market based on characteristics such as age, gender, income, and education level, while psychographic segmentation is based on factors such as values, beliefs, interests, and lifestyle. Product-related segmentation involves dividing the market based on the specific features, benefits, and uses of the product.

Dividing a Market into Similar Groups on the Basis of Their