Question

The process of dividing the market into groups of customers with different needs, wants, or characteristics is called:_______.a. target marketing.b. allocation market.c. segmentation value.d. capture positioning.

Answer 1

Answer:

C. segmentation

Explanation:

The process of dividing the market into groups of customers with different needs, wants, or characteristics is called segmentation. In segmentation, we divide the heterogeneous market into homogeneous segments having the same characteristics, needs, wants and demands. The basic philosophy is that any organisation can't serve the entire market quite successfully and moreover, organizations do not have that much resources so they can serve the whole market and all customers. Consequently, organisations divide the big market into smaller chunks, parts or segments so they can choose one or more than one segments to target with the help of their products and offerings.