The purpose of market segmentation is to
A) differentiate products.
B) divide a total market to enable a marketer to develop a more precise marketing mix.
C) reduce the overall cost of marketing activities.
D) identify a single marketing mix that will be satisfactory for the general market.
E) meet the needs of homogeneous markets.

Question

Quizplus · Accepted Answer

The purpose of market segmentation is to divide a total market into smaller, more specific groups of consumers with similar needs and characteristics. By doing so, marketers can develop a more precise marketing mix tailored to each segment's unique needs, which can ultimately result in more effective marketing and higher profits. Segmenting the market can also help reduce overall marketing costs by allowing marketers to focus their resources on the most lucrative segments.

The Purpose of Market Segmentation Is to