Question

Which of the following marketing concepts involves dividing a market into distinct groups of buyers based on their needs, characteristics, or behavior, who may require different products or marketing mixes?

• A. Product differentiation
• B. Market segmentation
• C. Market targeting
• D. Market positioning

Hint:

Segmenting markets allows businesses to focus their efforts more efficiently and tailor their products to better meet consumer demands.

Answer 1

The Correct Option is B

Market segmentation involves dividing the market into distinct groups based on varying needs and behaviors,allowing for targeted marketing strategies.