A group of consumers who respond in a similar way to a given set of marketing efforts is the company's ________.
A)value chain
B)market segment
C)strategic business unit
D)business portfolio
E)cash cow

Question

Quizplus · Accepted Answer

A market segment refers to a group of consumers with similar needs or preferences who are likely to respond in a similar way to a given set of marketing efforts. Segmenting the market allows companies to tailor their marketing strategies and offerings to meet the specific needs and wants of different groups of consumers, ultimately increasing the effectiveness of their marketing efforts.

A Group of Consumers Who Respond in a Similar Way