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Which of the Following Refers to the Process of Classifying

question 53

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Which of the following refers to the process of classifying a market into distinct groups of customers where each individual group has similar needs, wants, or characteristics?


Definitions:

Retail Store

A business establishment that sells goods to consumers, typically in small quantities for personal use.

Usage Rate

The quantity consumed or patronage (store visits) during a specific period. Frequency marketing focuses on usage rate.

Behavioral Segmentation

The process of dividing a market into groups based on consumer behaviors, such as purchasing habits or loyalty.

Product Features

The attributes or characteristics that make up a product, distinguishing it from others in the market.

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