Allyson has a small business that creates personalized gift baskets and is now in the process of identifying groups of buyers that have relatively similar product needs.She is engaged in the process of market segmentation.

Question

Quizplus · Accepted Answer

Market segmentation involves dividing the market into smaller groups of consumers with similar needs and characteristics so that businesses can create products and marketing strategies that are tailored to those specific groups. This is exactly what Allyson is doing by identifying groups of buyers with similar product needs.

Allyson Has a Small Business That Creates Personalized Gift Baskets