Question
When a business divides the mass market based on shared
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
.
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
.
Answers
GPT-4o mini
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**.