_____ is the process of dividing the market into smaller portions of people who have certain common characteristics.

Question

Quizplus · Accepted Answer

Segmentation is the process of dividing the market into smaller portions of people who have certain common characteristics such as age, gender, income, interests, and so on. This allows businesses to better understand and target specific groups with tailored marketing strategies and products/services. Target optimization and market recognition are not recognized terms in marketing, while market penetration refers to the strategy of increasing market share within an existing market segment, rather than dividing the market into smaller portions.

_____ Is the Process of Dividing the Market into Smaller