Market segmentation:

A) identifies and describes potential target markets.
B) often results in firms aiming at smaller and less profitable markets.
C) makes it possible for a company to use one marketing mix to reach the total market.
D) implies each individual should be treated as a separate market segment.
E) is accurately described by all of the above.

Question

Market segmentation:
 
A) identifies and describes potential target markets.
B) often results in firms aiming at smaller and less profitable markets.
C) makes it possible for a company to use one marketing mix to reach the total market.
D) implies each individual should be treated as a separate market segment.
E) is accurately described by all of the above.

Quizplus · Accepted Answer

Market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics. This approach helps in identifying and describing potential target markets, allowing companies to tailor their marketing strategies to meet the specific needs of each segment.

Market Segmentation: A) Identifies and Describes Potential Target Markets