Individuals, groups or organisations 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 are groups of individuals, organizations, or groups with similar characteristics that make them have similar product needs. This segmentation allows businesses to target specific groups with tailored marketing strategies and products. Heterogeneous markets have diverse needs, while concentrated markets have a dominant player controlling the market. Demographic segments are groups divided by demographic characteristics like age or gender. Strategic segments do not exist as a commonly accepted term in marketing segmentation.

Individuals, Groups or Organisations with One or More Similar Characteristics