The aggregation of prospective buyers into groups that (1)have common needs and (2)will respond similarly to a marketing action is referred to as __________.
A)market diversification
B)market differentiation
C)market segmentation
D)market augmentation
E)market repositioning

Question

Quizplus · Accepted Answer

Market segmentation involves grouping potential buyers based on similar needs and response to marketing actions. Market diversification involves expanding a company's reach into new markets or products. Market differentiation involves highlighting unique qualities of a product in comparison to competitors. Market augmentation is not a commonly used term in marketing. Market repositioning involves changing the perception or image of a product in the minds of consumers.

The Aggregation of Prospective Buyers into Groups That (1)have Common