The breaking down of a market into separate and identifiable elements each with its own special product requirement is known as market
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Correct Answer: Option B
Explanation:
Market segmentation is the process of dividing a broad market into smaller groups of consumers with similar needs, characteristics or buying behaviour. This enables a business to identify groups with specific requirements and develop products or marketing strategies that suit them.
Market segmentation is the process of dividing a broad market into smaller groups of consumers with similar needs, characteristics or buying behaviour. This enables a business to identify groups with specific requirements and develop products or marketing strategies that suit them.