Question

Item 25 In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Answer 1

Answer:

market segment.

Explanation:

Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research.

Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.

In marketing, each market segment comprises of people (consumers) who are relatively similar to each other in terms of their consumption behavior and preference or choice with respect to goods and services.