Dividing the market based on specific features of the product preferred by your target market, such as flavor, is segmentation.
Question
Dividing the market based on specific features of the product preferred by your target market, such as flavor, is segmentation.
Solution
The type of market segmentation described in your question is known as "Product Segmentation". This strategy involves dividing a market based on specific product features preferred by different consumer groups. For example, a company that sells chips might segment their market based on flavor preferences, offering different flavors to cater to different segments of their market.
Similar Questions
Dividing the market by the amount of a product used is segmentation.
Dividing the market using a group's values, attitudes, and interests is segmentation.
The purpose of segmentation is to enable marketers to tailor marketing mixes -Question 23Answera.FALSEb.TRUE
Market segmentation refers to:Select one:a.Dividing the market into geographic regionsb.Dividing the market into high-income and low-income consumersc.Dividing the market into smaller groups based on similar characteristicsd.Dividing the market into product categories
Which level of market segmentation involves tailoring products to suit individual customers?Mass marketing.Segment marketing.Niche marketing.Micro-marketing
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.