People and organizations have needs and wants they seek to satisfy through the purchase of goods and services. These people and organizations represent a _____________ that marketers try to appeal to. Marketers will sometimes find it more advantageous to attempt to appeal to a subgroup of these people and organizations which is called a ________________. This subgrouping process is accomplished through the use of _______________ techniques.
A)Market segment; Cohort group; Marketing
B)Market segment; Market; Product mix
C)Market; Target market; Target marketing
D)Market; Market segment; Market segmentation
E)Market; Market segmentation; Marketing

Question

​People and organizations have needs and wants they seek to satisfy through the purchase of goods and services. These people and organizations represent a _____________ that marketers try to appeal to. Marketers will sometimes find it more advantageous to attempt to appeal to a subgroup of these people and organizations which is called a ________________. This subgrouping process is accomplished through the use of _______________ techniques.
A)Market segment; Cohort group; Marketing
B)Market segment; Market; Product mix
C)Market; Target market; Target marketing
D)Market; Market segment; Market segmentation
E)Market; Market segmentation; Marketing

Quizplus · Accepted Answer

The passage clearly discusses the concept of market segmentation, which involves dividing a larger market into smaller, more homogeneous groups of consumers who have similar needs and characteristics. This process allows marketers to tailor their products and marketing strategies to specific segments, improving their chances of success. The passage also mentions the use of segmentation techniques, further supporting choice D as the best answer. Choices A, B, C, and E are either incorrect or do not accurately reflect the information presented in the passage.

​People and Organizations Have Needs and Wants They Seek to Satisfy

People and Organizations Have Needs and Wants They Seek to Satisfy