_____ 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. This allows for targeted marketing efforts towards specific groups, resulting in more efficient and effective marketing strategies. A is incorrect because value proposition refers to the unique benefit or advantage that a company offers to its customers. B is incorrect because market penetration refers to the strategy of gaining a larger market share for an existing product or service. D is incorrect because CRM (Customer Relationship Management) refers to the practices, strategies, and technologies that companies use to manage and analyze customer interactions and data.

_____ Is the Process of Dividing the Market into Smaller