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

We'll be glad to check your answer.

I disagree.

The correct answer is B. Market segmentation.

To understand why, let's break down the options:

A. Mass marketing refers to targeting a large, undifferentiated market with a standardized marketing mix. This involves ignoring any potential differences among customers and treating them all the same. It does not involve any process of naming broad product-markets and segmenting them.

B. Market segmentation is the process of dividing a market into distinct groups of customers (segments) based on specific characteristics, needs, or preferences. This allows marketers to tailor their marketing strategies and offerings to each segment, resulting in more effective and efficient marketing.

C. Diversification refers to expanding a company's product or service offerings into new markets or industries. While this may involve market segmentation to identify new target markets, it is not specifically related to the process of naming broad product-markets and segmenting them.

D. Market positioning refers to how a company's product or brand is perceived by consumers in relation to competing products or brands. It involves creating a distinct and favorable image or identity in the minds of consumers. While market positioning may be informed by market segmentation, it is not the primary process of naming broad product-markets and segmenting them.

Therefore, the correct answer is B. Market segmentation.