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Question

Dividing the total market into several groups on the basis of consumer characteristics is known as:

A

Market segmentation

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B

Market Development

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C

Market Research

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D

None of the above.

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Solution

The correct option is A Market segmentation
Dividing the total market into several groups on the basis of consumer characteristics is known as market segmentation. In this process, potential consumers are divided into different groups. Market segmentation is done to facilitate market research.

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