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What is the term for the process of dividing a market into distinct groups of bu
What is the term for the process of dividing a market into distinct groups of buyers?
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What is the term for the process of dividing a market into distinct groups of buyers?
Market segmentation
Market targeting
Market positioning
Market analysis
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Market segmentation is the process of dividing a market into distinct groups of buyers.
Questions & Step-by-step Solutions
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Q: What is the term for the process of dividing a market into distinct groups of buyers?
Solution:
Market segmentation is the process of dividing a market into distinct groups of buyers.
Steps: 4
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Step 1: Understand that a market is made up of many different buyers.
Step 2: Recognize that not all buyers have the same needs or preferences.
Step 3: Learn that dividing these buyers into smaller groups helps businesses target them better.
Step 4: Know that this process of dividing the market is called 'market segmentation'.
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