The Process of Dividing a Market into Distinct Subsets of Consumers

question 32

Multiple Choice

The process of dividing a market into distinct subsets of consumers with common needs or characteristics is known as ________.

• A) target marketing
• B) market segmentation
• C) consumer behavior
• D) the marketing concept
• E) market evaluation

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Definitions:

General Purpose

Aimed to serve a wide range of uses or objectives rather than being specialized for a specific function or task.

Financial Reporting

The method of generating reports that reveal the financial condition of an organization to its management, investors, and governmental bodies.

Legal System

A comprehensive system of rules and principles organized to regulate societal behaviors, enforced through institutions.

Common Law

A system of law based on judicial decisions and precedent rather than statutes.