"The process of dividing a market into groups of similar consumers and selecting the most appropriate group(s) for the firm to serve is called _____."

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asked Mar 20, 2021 231k views

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Supersharp · Answer 1 · 2021-03-24T04:19:36+0000

Answer:

(C). Market segmentation

Step-by-step explanation:

Market segmentation involves dividing a market into similar consumer groups, based on factors such as; age, purchasing behavior, interests, geographic location, income level.

A firm can then focus its available resources towards meeting the needs of customers in a selected target group or segment.

"The process of dividing a market into groups of similar consumers and selecting the most appropriate group(s) for the firm to serve is called _____."

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