Which of the following marketing concepts involves dividing a market into distinct groups of buyers based on their needs, characteristics, or behavior, who may require different products or marketing mixes?

Correct option is B

· Market segmentation is the process of dividing a large market into smaller groups with similar characteristics, behaviors, or needs.
· It helps businesses create targeted marketing strategies and product variations that best suit different customer segments.
· Types of segmentation include demographic, geographic, psychographic, and behavioral segmentation.