The identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as ________.
A) segmentation
B) integration
C) disintermediation
D) cross-selling
E) customization

Question

Quizplus · Accepted Answer

Segmentation involves dividing a market into smaller groups of buyers who share similar needs or characteristics. This allows businesses to tailor their products and services to meet the specific needs of these groups, improving the effectiveness of their marketing efforts and maximizing sales. Integration involves bringing separate components or systems together to form a unified whole, while disintermediation involves eliminating intermediaries from a supply chain. Cross-selling involves offering customers additional products or services that complement what they have already purchased. Customization involves adapting products or services to meet individual customer needs or preferences. While some of these strategies may be used in conjunction with segmentation, segmentation itself is specifically focused on identifying and profiling distinct groups of buyers.

The Identification and Profiling of Distinct Groups of Buyers Who