The process of dividing a market into groups of similar consumers and selecting the most appropriate group(s)for the firm to serve is called _____.
A)test marketing
B)mass marketing
C)market segmentation
D)marketing communication

Question

Quizplus · Accepted Answer

Market segmentation is the process of identifying groups of consumers with similar needs or characteristics and dividing the market into these smaller segments. This allows marketers to tailor their products, services, and marketing efforts to meet the specific needs of each segment, and ultimately achieve higher levels of customer satisfaction and loyalty. Test marketing is a research method used to test the viability of a new product or marketing campaign before launching it on a larger scale. Mass marketing is a strategy that involves targeting the entire market with a single marketing mix. Marketing communication refers to the various methods and channels used to communicate with customers and prospects about a company's products or services.

The Process of Dividing a Market into Groups of Similar