Subdividing a market into distinct subsets of customers according to their needs and the way they buy and use a product or service is:
A) market penetration.
B) product diversification.
C) market segregation.
D) market segmentation.
E) positioning

Question

Quizplus · Accepted Answer

The term that describes the process of dividing a market into distinct subsets of customers according to their needs and the way they buy and use a product or service is market segmentation. This is an important step in developing a successful marketing strategy, as it enables a company to tailor its products, advertising, and promotions to specific customer groups, thereby increasing the chances of success in the marketplace.

Subdividing a Market into Distinct Subsets of Customers According to Their