Market segmentation:
A) means the same thing as marketing strategy planning.
B) assumes that most submarkets can be satisfied by the same marketing mix.
C) is the same thing as positioning.
D) tries to identify homogeneous submarkets within a product-market.
E) None of these choices regarding market segmentation is true.

Question

Quizplus · Accepted Answer

Market segmentation aims to identify homogeneous submarkets within a larger product-market. This helps businesses to tailor their marketing mix (product, price, promotion, and distribution) to the specific needs and preferences of each submarket. Marketing strategy planning is a broader term that encompasses various activities related to developing and implementing marketing plans, including market segmentation. Option B is incorrect because the assumption of market segmentation is that different submarkets have different needs and preferences, and therefore require different marketing mixes. Positioning is a related concept that refers to how businesses try to create a distinct image and reputation for their brand in the minds of target consumers.

Market Segmentation