Name and describe the three categories into which business markets can
QUESTION
Name and describe the three categories into which business markets can be classified.
What will be an ideal response?
ANSWER
Answer: (1) geographic segmentation: dividing the market by location; (2) customer-based segmentation: dividing the market by customer characteristics; and (3) product-use-based segmentation: dividing the market by customer use of the product
Explanation: (1) geographic segmentation: dividing the market by location; (2) customer-based segmentation: dividing the market by customer characteristics; and (3) product-use-based segmentation: dividing the market by customer use of the product
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