Identifying customers with common needs is always a part of:
A) capital budgeting.
B) segmentation.
C) Setting business unit objectives.
D) a differentiated strategy.
E) a harvesting strategy.

Question

Quizplus · Accepted Answer

Identifying customers with common needs is a key step in market segmentation, which is the process of dividing a market into smaller groups of consumers with similar needs or characteristics. This allows businesses to tailor their marketing efforts and product offerings to better meet the specific needs and preferences of these target segments. While capital budgeting, setting business unit objectives, differentiated strategy, and harvesting strategy are all important business processes, they do not directly involve identifying customer needs or market segmentation.

Identifying Customers with Common Needs Is Always a Part Of