Which of the following refers to the process of classifying a market into distinct groups of customers where each individual group has similar needs, wants, or characteristics?
A)Downsizing
B)Positioning
C)Locational excellence
D)Segmentation
E)Diversification

Question

Quizplus · Accepted Answer

Segmentation refers to the process of dividing a market into smaller groups of customers with similar needs or characteristics. This allows marketers to better target their products and messages to specific segments, increasing the effectiveness of their marketing efforts. Downsizing refers to reducing the size of a company or organization, while positioning refers to how a brand is perceived by consumers relative to its competitors. Locational excellence refers to having a prime, easily accessible location for a business or retail store. Diversification refers to adding new products or services to a business's existing offerings.

Which of the Following Refers to the Process of Classifying