After segmenting markets so a firm can target particular customer groups, the next step is to find out what customer groups want and expect.

Question

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Once a firm has segmented its markets, the next step is to conduct market research to find out what each customer segment wants and expects. This helps the firm tailor its marketing mix (product, price, promotion, and place) to meet the needs of each specific segment.

After Segmenting Markets So a Firm Can Target Particular Customer