Final answer:
The step in designing a customer value-driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market segmentation. Once the market has been segmented, the company can then proceed to the next step, which is targeting. After targeting, the company can further differentiate itself from competitors by positioning its product or service in the minds of consumers.
Step-by-step explanation:
The step in designing a customer value-driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market segmentation. Market segmentation is the process of identifying and categorizing different groups of consumers with similar characteristics and needs. By segmenting the market, companies can better understand their target audience and create tailored marketing strategies to meet their specific needs.
Once the market has been segmented, the company can then proceed to the next step, which is targeting. Targeting involves selecting one or more segments to focus on based on factors such as profitability, market size, and growth potential. After targeting, the company can further differentiate itself from competitors by positioning its product or service in the minds of consumers. Positioning includes creating a unique and favorable perception of the product in order to stand out in the market.