Multiple choice

Market is basically segmented on the basis of _____

  1. Similar wants of buyers

  2. Price of the product

  3. Quality of the product

  4. Region

  5. None of these

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Market segmentation is the process of dividing a broad market into subsets of consumers who have common needs, interests, and priorities. Identifying similar wants is the fundamental basis for this process.