Question:
What is the term for dividing a company’s target market into smaller groups based on specific characteristics?
What is the term for dividing a company’s target market into smaller groups based on specific characteristics?
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Segmentation helps businesses target the right customers effectively.
Updated On: Apr 23, 2026
- Market expansion
- Market segmentation
- Product development
- Brand positioning
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The Correct Option is B
Solution and Explanation
Concept:
Market segmentation is the process of dividing a broad market into smaller groups based on characteristics like age, income, or preferences.
Step 1: Understand the definition.
\[ {Dividing market into groups} \Rightarrow {segmentation} \]
Step 2: Evaluate options.
Hence, the correct answer is Market segmentation.
Step 1: Understand the definition.
\[ {Dividing market into groups} \Rightarrow {segmentation} \]
Step 2: Evaluate options.
- (A) Market expansion $\times$ increasing market size
- (B) Market segmentation \checkmark correct
- (C) Product development $\times$ creating new products
- (D) Brand positioning $\times$ creating brand image
Hence, the correct answer is Market segmentation.
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