Which one of the following is a commonly used method for segmenting markets?
A) the benefit method
B) the physiological method
C) the product method
D) the consumer method

Question

Quizplus · Accepted Answer

The benefit method is a commonly used method for segmenting markets, where customers are segmented on the basis of the benefits they seek from a product or service. This approach focuses on the needs and wants of the customers and helps in identifying the benefits that they look for in a product. This segmentation method is effective in identifying the target audience for a specific product or service and in developing marketing strategies to meet their needs. The physiological method (B) focuses on the physical and biological characteristics of the customers, whereas the product method (C) focuses on the characteristics of the product or service. The consumer method (D) is a generic term that can refer to any method that uses consumer characteristics to segment the market.

Which One of the Following Is a Commonly Used Method