Identifying specific subgroups of buyers who have distinguishable needs is called ________.
A) market segmentation
B) product analysis
C) buyer division
D) market design

Question

Quizplus · Accepted Answer

Market segmentation involves dividing a larger market into groups of consumers with similar needs and characteristics. This allows companies to tailor their marketing strategies and product offerings to better meet the specific needs of these subgroups. Product analysis, buyer division, and market design are not terms commonly used to describe this process.

Identifying Specific Subgroups of Buyers Who Have Distinguishable Needs Is