purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to
A) maintain market share.
B) increase sales and profits.
C) assume social responsibility.
D) use the firm's resources most efficiently.
E) provide the best quality products on the market.

Question

Quizplus · Accepted Answer

Market segmentation aims to divide the market into groups of potential buyers with similar characteristics and needs. This helps companies to tailor their marketing strategies and offerings to better meet the wants and needs of those specific target groups. As a result, companies can increase sales and profits by providing more customized and relevant products and services to these groups.

Purpose of Market Segmentation Is to Respond More Effectively to the Wants