Question

• 40. Aggregating prospective buyers into groups or segment that 1) have common needs and 2) will respond similarly to a marketing action is referred to as

Answer 1

Market segmentation is the process of grouping prospective buyers based on common needs and responses to marketing actions.

Step-by-step explanation:

Market segmentation is the process of aggregating prospective buyers into groups or segments based on their common needs and similar responses to marketing actions. This allows companies to tailor their marketing strategies and offerings to the specific needs and preferences of each segment. By understanding the unique characteristics of each segment, companies can effectively target and engage their customers, resulting in higher customer satisfaction and profitability.