Question

In marketing a distinctive group of consumers is known as

Answer 1

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In marketing a distinctive group of consumers is known as;

Market Segment/Segment.

A market segment is the process of classifying groups and sub-groups of the consumers according to their needs and wants. This is a process to develop the marketing policy to understand target audience and make efficient distribution. 

Answer 2

In marketing, a distinctive group of consumers is known as a market segment.

Explanation:

• The market segment is the method of classifying groups and sub-groups of the consumers according to their needs and wants in the economy.  

• Once the consumers are segregated into different segments then it becomes easy for the organizations to identify their business strategies.  

• The market segments could be a form of Demographic segmentation, Behavioral segmentation, Psychographic segmentation, and Geographic segmentation.  

• These segments are targeted as a group of consumers or organizations most likely to buy a company's products or services.

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