An organization adopts the ______________ concept when it takes steps to know a much about the consumer as possible, combined wi

Question

Bingel [31]

3 years ago

11

An organization adopts the ______________ concept when it takes steps to know a much about the consumer as possible, combined wi

th a decision to base marketing, product, and strategy decisions on this information.

Business

1 answer:

Mandarinka [93] · Answer 1 · 2022-05-12T15:58:58+03:00

Answer:

market segmentation

Explanation:

An organization adopts the market segmentation concept when it takes steps to know a much about the consumer as possible, combined with a decision to base marketing, product, and strategy decisions on this information.

Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or locations.