The relatively homogenous groups of prospective buyers that (1)have common needs and (2)will respond similarly to a marketing action is referred to as a(n)__________.
A)market segment
B)target market
C)customer base
D)ultimate consumer
E)preferred customer

Question

Quizplus · Accepted Answer

A market segment is a group of prospective buyers that have common needs and will respond similarly to a marketing action. Target market refers to a specific group of customers that a business has decided to aim its marketing efforts towards, which may include multiple market segments. Customer base refers to all customers who have purchased from a particular company, not just a subset with common needs. Ultimate consumer refers to the end user of a product or service, while preferred customer refers to a customer who receives special treatment or benefits from a company due to their loyalty or high level of spending.

The Relatively Homogenous Groups of Prospective Buyers That (1)have Common