A ---------------- is a subgroup of people or organizations sharing one or more characteristics that cause them to have --------------- product needs.Question 14Answera.Market Segment, Dissimilarb.Market Segment, Similarc.Market, dissimilard.Market, Similar

Which term refers to dividing a market into smaller groups based on similar characteristics and needs?Responses

Explain the term ‘market segments’.

Market Segmentation is concerned with? Group of answer choicesassessing promotional requirementsunderstanding different parts of an organisation to managecreating distinct subsets with common needslooking at the price of a product to market

Market involves aggregating prospective buyers into groups, or segments, that have common needs and will respond similarly to a marketing action.

Market segmentation refers toQuestion 9Answera.Grouping the organization into different silosb.Divide large heterogeneity market into smaller groups with homogeneity characteristicsc.Systematic and unbiased approach to understand the marketd.Designing products to meet the selected segment of the customers