Question

In order to build profitable relationship with customers, it is important to decide whom it will serve. It does this by _________ and ____________ a. MARKET SEGMENTATION, POSITIONING b. TARGET MARKETING, CUSTOMIZATION c. POSITIONING, DIFFERENTIATION d. MARKET SEGMENTATION, TARGET MARKETING

Answer 1

MARKET SEGMENTATION, TARGET MARKETING

Step-by-step explanation:

In marketing defining the customer that a product will serve is a very important step in making a profitable venture. If a product is promoted to a wrong customer, chances are they will not buy.

Two methods of determining who a product will serve are market segmentation and target marketing.

Market segmentation is the process by which a set of customers are divided into groups on the basis of some shared characteristics. For example education, income level, and demography.

Target marketing is a subset of the total market for a good or service. It is a group of people that have been identified and targeted for promotional efforts.