When a business divides the mass market based on shared

Question

to better
the needs of one or more segments this is called market
.Demographics,
, and geography are the more commonly used methods for
.Often businesses will use more than
of these methods simultaneously to identify a
market.A business must understand its target
in order to provide
and services which best satisfy the needs and wants of the targeted
.

Answer 1

When a business divides the mass market based on shared characteristics to better serve the needs of one or more segments, this is called market segmentation. Demographics, psychographics, and geography are the more commonly used methods for segmentation. Often, businesses will use more than one of these methods simultaneously to identify a niche market. A business must understand its target audience in order to provide products and services which best satisfy the needs and wants of the targeted market.