In marketing strategy, what is market segmentation?
Answer and explanation
Correct answer: D. Dividing a broad consumer market into distinct subgroups with shared needs or characteristics
- Step 1: Market segmentation is the process of partitioning an aggregate market into distinct customer groups based on demographic, geographic, behavioral, or psychographic traits. Answer: Dividing a broad consumer market into distinct subgroups with shared needs or characteristics. Why not the others: Universal pricing is uniform pricing, corporate merging is horizontal integration, and store closures are retail restructuring.
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