Question

International businesses have to engage in market __________, or identifying different groups of consumers by their purchasing behavior.

Answer 1

International businesses have to engage in market Segmentation or identifying different groups of consumers by their purchasing behavior.

What is market Segmentation

Market segmentation refers to the process of dividing a large consumer or business market which usually consists of existing and potential customers, into smaller groups of consumers characterised by their shared consumer behaviour.

For international businesses to survive in a market, there is need to perform Market segmentation in order to make informed decisions.

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