Which of the following best describes market segmentation?
A)actually differentiating the market offering to create superior customer value
B)identifying consumer needs and creating a product to meet those needs
C)arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
D)the process of evaluating each market segment's attractiveness and selecting one or more segments to enter
E)dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors

Question

Quizplus · Accepted Answer

Market segmentation refers to the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors. This allows businesses to tailor their marketing mix to better meet the specific needs and preferences of each segment, ultimately resulting in increased customer satisfaction and revenue. Options A, B, C, and D describe other aspects of marketing that may be involved in the process of market segmentation, but they do not fully capture the concept itself.

Which of the Following Best Describes Market Segmentation