Individuals, groups, or organizations with one or more similar characteristics that cause them to have similar product needs are classified as
A) market segments.
B) heterogeneous markets.
C) concentrated markets.
D) demographic segments.
E) strategic segments.

Question

Quizplus · Accepted Answer

Market segments refer to groups of people or organizations with similar product needs. Heterogeneous markets are the opposite, with groups having varying product needs. Concentrated markets focus on a specific group or niche. Demographic segments refer to groups based on demographic factors such as age or income, which may or may not relate to their product needs. Strategic segments are not a commonly used term in marketing segmentation.

Individuals, Groups, or Organizations with One or More Similar Characteristics