Which of the following is a criterion for successful market segmentation?
A)The market segment must comprise people with different product needs
B)The market segment must comprise people of different characteristics
C)The market segment must be large enough to warrant developing and maintaining a special marketing mix.
D)The market segment must be divided according to the North American Industry Classification System

Question

Which of the following is a criterion for successful market segmentation?
A)​The market segment must comprise people with different product needs
B)The market segment must comprise people of different characteristics
C)The market segment must be large enough to warrant developing and maintaining a special marketing mix.​
D)​The market segment must be divided according to the North American Industry Classification System

Quizplus · Accepted Answer

For successful market segmentation, the market segment must be large enough to justify the costs associated with developing and maintaining a unique marketing mix. This means that the segment must be profitable, have growth potential and be accessible. Simply segmenting based on product needs or different characteristics is not enough if the segment is not large enough to support a unique marketing strategy. The North American Industry Classification System is a method of categorizing companies based on the industries in which they operate and is not relevant to market segmentation.

Which of the Following Is a Criterion for Successful Market