BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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division of a market of consumers into people with similar needs and wants
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division of a supermarket into main sales areas
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division of the marketers into groups according to their experience
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None of the above
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Detailed explanation-1: -What Is Market Segmentation? Market segmentation is a marketing term that refers to aggregating prospective buyers into groups or segments with common needs and who respond similarly to a marketing action.
Detailed explanation-2: -Market segmentation is a marketing strategy that uses well-defined criteria to divide a brand’s total addressable market share into smaller groups. Each group, or segment, shares common characteristics that enable the brand to create focused and targeted products, offers and experiences.
Detailed explanation-3: -Market segmentation refers to subdividing a larger market into smaller submarkets. Philip Kotler defines, “Market segmentation is a process of identifying groups of buyers with different desires or requirements."
Detailed explanation-4: -Demographic, psychographic, behavioral and geographic segmentation are considered the four main types of market segmentation, but there are also many other strategies you can use, including numerous variations on the four main types. Here are several more methods you may want to look into.
Detailed explanation-5: -Segmentation is the process of dividing a company’s target market into groups of potential customers with similar needs and behaviours. Doing so helps the company sell to each customer group using distinct strategies tailored to their needs.