21) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

A. Diversification
B. Market positioning
C. Market segmentation
D. Mass marketing

C. Market segmentation

To determine the correct answer, we need to understand the different processes involved in marketing.

Market segmentation is the process of dividing a broad product-market into smaller, more specific segments. This helps companies to better understand their customers' needs and preferences, and tailor their marketing strategies to target these specific segments.

Diversification refers to the strategy of entering new markets with new products in order to diversify a company's offerings.

Market positioning involves creating a distinct image and identity for a product or brand in the minds of consumers, differentiating it from competitors.

Mass marketing is a strategy in which a company targets the entire market with a single marketing mix, without segmenting the market or targeting specific groups.

Based on the description provided in the question, the correct answer is C. Market segmentation, as it involves naming broad product-markets and then segmenting them to select target markets and develop suitable marketing mixes.