Question

The process of dividing a market into distinct groups of buyers with different needs, characteristics or behaviours is called: a) target marketing b) positioning c) market segmentation d) market penetration

Answer 1

Answer:

segmentation means the Process of dividing the market into smaller groups Or segments.

Answer 2

The process of dividing the market into a distinct group of buyers with different needs characteristics or behaviors is called market segmentation. Market segmentation is very important when they are a group of buyers with common needs.

• Market segmentation is divided into four types.
• Demographic psychographic behavioral geographic segmentation.
• Market segmentation is very important because it allows and helps the companies to be updated and use the resources like time and money in an optimum manner.
• They tend to understand the needs of the customers and provide the best solution to them.