Subdividing a market into distinct subsets of customers according to their needs and the way they buy and use a product or service is known as
A) market penetration.
B) product diversification.
C) market segregation.
D) market segmentation.
E) positioning.

Question

Quizplus · Accepted Answer

Market segmentation involves dividing a market into smaller groups of customers with similar needs and characteristics. This allows marketers to tailor their products and marketing strategies to specific segments, improving their chances of success. Options A, B, C, and E are all related concepts, but do not specifically refer to the process of segmenting a market.

Subdividing a Market into Distinct Subsets of Customers According to Their