The Process of Dividing a Market into Groups of Similar

question 92

Multiple Choice

The process of dividing a market into groups of similar consumers and selecting the most appropriate group(s) for the firm to serve is called _____.

• A)test marketing
• B)mass marketing
• C)market segmentation
• D)marketing communication

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Definitions:

Women's Dress Manufacturing

The industry sector focused on the design, creation, and distribution of dresses specifically for women.

Cotton Farming

The agricultural practice of cultivating cotton plants for their fibers, which are used in textile production.

Differentiated Oligopoly

A market structure in which a few companies dominate the market and sell products that are different but closely related, often with marketing brands, designs, or functionalities.

Homogeneous Oligopoly

A market structure characterized by a few companies that sell identical or very similar products, leading to strategic behavior among competitors.