What term describes a group of buyers who share similar buying habits?

The term that correctly describes a group of buyers who share similar buying habits is "Market Segment." This concept is pivotal in marketing and business strategy because it allows businesses to identify and target specific groups of consumers who are likely to respond similarly to marketing efforts. By segmenting the market, companies can tailor their products, services, and promotional strategies to meet the particular needs and preferences of those groups, leading to more effective marketing and stronger customer relationships.

Market segments can be categorized based on various criteria, such as demographic factors (age, gender, income), geographic location, or psychographic factors (lifestyle, values). This division helps businesses focus resources efficiently and develop targeted marketing campaigns that resonate with their audiences.

The other terms, while related to consumer behavior and marketing, do not specifically refer to a group of buyers with similar habits. For example, "Market Demand" refers to the overall desire for a product within a market, while a "Consumer Profile" typically provides insights about individual consumer characteristics. "Buyer Persona" is a semi-fictional representation of a business's ideal customer, which can include various traits and behaviors, but it does not specifically refer to a group of buyers with shared buying habits.