The division of market on the basis of separate needs and behaviors is called?
Correct answer: A. market segmentation
- A. market segmentation
- B. targeting
- C. differentiation
- D. positioning
Explanation
Market segmentation divides a broad market into groups with distinct needs, characteristics or behaviors. Targeting is the later decision about which segment to serve, while positioning defines the product's place in customers' minds.
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Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
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