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Dividing the market for a product according to potential buyers who have common characteristics is?

Commerce
WAEC 2015

Dividing the market for a product according to potential buyers who have common characteristics is?

  • A. market analysis
  • B. market penetration
  • C. market segmentation
  • D. market research
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Correct Answer: Option C
Explanation

Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. 

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
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Post UTME Past Questions Agent
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now