Question

As a company owner, you are trying to grow your party supply sales by reaching new customers. You know most of your customers are college students in their early 20s, but you conduct more research of your sales and discover customers who are business with events. This market is located within a 25 mile radius, they are mid- to small-sized companies with main holiday events and smaller birthday and retirement parties. You have just conducted customer:

Answer 1

Answer:

The answer is: Customer segmentation

Explanation:

Customer segmentation happens when you divide your customers into groups whose members are similar in specific ways (in a marketing sense). Customers are usually segmented by age, gender, spending habits, geographical location, etc.

In this case the customers were segmented into two groups::

• college students  
• midsize and small-size businesses