When the total market is divided, one of its groups is called a market segment. A market is an arrangement that brings sellers and buyers together for economic transactions.
When the total market is divided, it creates different market segments based on various criteria such as products or geographic regions. Each of these segments represents a specific group within the overall market.
A market is an arrangement that brings sellers and buyers together for economic transactions. In economics, when we talk about dividing the total market, it means categorizing the market into different groups based on various criteria such as products, services, or geographic regions.
Each of these groups is called a market segment. By dividing the market, businesses can better understand and target specific customer needs and preferences.
For example, in the software industry, there are various market segments such as operating systems, games, productivity software, and scientific programs. Each segment has its own unique characteristics and consumer preferences. By identifying and targeting these market segments, companies can tailor their products and marketing strategies to better meet the needs of specific customer groups.
--The given question is incomplete, the complete question is given below:
"when the total market is divided, one of its groups is called a market _____."--