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What is market segmentation?
What is market segmentation?
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Practice Questions
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Q1
What is market segmentation?
Dividing a market into distinct groups of buyers
Creating a single marketing strategy for all customers
Analyzing competitors' market strategies
Setting prices based on market demand
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Market segmentation is the process of dividing a market into distinct groups of buyers with different needs or characteristics.
Questions & Step-by-step Solutions
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Q
Q: What is market segmentation?
Solution:
Market segmentation is the process of dividing a market into distinct groups of buyers with different needs or characteristics.
Steps: 4
Show Steps
Step 1: Understand that a market is made up of many different buyers.
Step 2: Recognize that these buyers have different needs, preferences, or characteristics.
Step 3: Learn that market segmentation is the process of dividing the overall market into smaller groups based on these differences.
Step 4: Identify that each group, or segment, can be targeted with specific marketing strategies.
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