A firm that uses market segmentation assumes that different types of customers with different needs, preferences, and purchasing power can be served by a single marketing mix.

Question

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Market segmentation is the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors who might require separate products or marketing mixes. A firm using market segmentation does not assume a single marketing mix can serve all segments effectively; instead, it tailors marketing strategies to fit the specific needs of each segment.

A Firm That Uses Market Segmentation Assumes That Different Types