What is the process of grouping customers into market segments according to the different needs and wants sought from the product?
A) psychographic segmentation
B) Macrosegmentation
C) lifestyle segmentation
D) benefit segmentation

Question

Quizplus · Accepted Answer

Benefit segmentation is the process of dividing a market into groups of consumers who have similar needs and buying behaviors. The segmentation is based on the benefits that the consumers are seeking from the product. This segmentation allows a business to tailor its marketing and advertising messages to each segment, highlighting the benefits that are most important to each group. This can help the business to better meet the needs and wants of its customers, leading to increased sales and customer loyalty.

What Is the Process of Grouping Customers into Market Segments