Dividing a Market into Distinct Groups of Buyers Who Have

question 141

True/False

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs is known as market diversification.

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Definitions:

Lack of Access

The unavailability or inability to obtain necessary resources, services, or opportunities, often due to economic, social, or geographical barriers.

Lack of Friends

A situation where an individual experiences a deficiency in social connections or meaningful friendships.

Customer Problems

Issues or challenges faced by customers that businesses aim to solve through their products or services.

Multisided Markets

Markets with two or more customer segments that are mutually independent of each other.