Question

When a toothpaste manufacturer divides the marketplace into smaller targets based on benefits sought by the consumer, this is an example of market ______.

Answer 1

Answer:

Segmentation.

Explanation:

When a toothpaste manufacturer divides the marketplace into smaller targets based on benefits sought by the consumer, this is an example of market segmentation.

Market segmentation can be defined as the process of aggregating potential consumers (buyers) into a collective groups having common or related needs and are most likely to respond similarly to marketing techniques. These consumers share some traits or characteristics together and these include locations, needs, interests,

A good market segmentation base are divided into four (4) and these are; the behavioral, demographic, psychographic and geographical. Also, these variables are used to determine its strategy or techniques for a market segmentation.

Additionally, tailoring goods or services to the tastes of individual customers on a high-volume scale is a segmentation strategy known as segments of one.