Asked by
Ibrahim Khalil
on Dec 14, 2024Verified
Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as
A) market aggregation.
B) market segmentation.
C) product sorting.
D) product grouping.
E) mass marketing.
Market Segmentation
The practice of dividing a broad target market into subsets of consumers who have common needs, interests, and priorities, and then designing and implementing strategies to target them.
Market Aggregation
The practice of treating an entire market as a single entity by offering a single product or service to all customers, ignoring segmentation.
- Acquire knowledge on the process of market segmentation and its significance in identifying particular groups of consumers.
Verified Answer
AG
Learning Objectives
- Acquire knowledge on the process of market segmentation and its significance in identifying particular groups of consumers.