6 4. Segmenting the Consumer and Business Markets Check my work 3.22 points Skipped eBook Print Segmenting the Consumer and Business Markets Marketers must know as much as possible about the markets they wish to serve. There are two major markets in business, the consumer market and the business market. Because businesses can't fill the needs of every group, they must decide what groups to serve, and then develop products and services tailored to meet their needs. The consumer market consists of individuals buying goods for personal consumption. The business-to-business market (B2B) is comprised of individuals and organizations buying goods and services for use in conducting their business. The buyer's reason for buying, or in other words, the end use of the product, determines whether a product is a consumer good or a B2B good. The consumer market can be segmented in many ways since consumer groups differ greatly by age, education, income, and taste and many other ways. References Match each term with the scenario it best illustrates. Demographic segmentation 2 Benefit segmentation 3 Consumer market 4 Volume segmentation 5 Business market 6 Psychographic segmentation 7 Geographic segmentation Match each of the options above to the items below. 21 Next