Which of the following statements about market segmentation is True?
A) It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market.
B) It is a process of evaluating each segment's attractiveness and selecting one or more to enter.
C) It is a process of creating an image or identity of the product in the minds of the target market.
D) It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.
E) It is the quality of how marketers go to market with the goal of optimizing their spending to achieve good results.

Question

Quizplus · Accepted Answer

Market segmentation is the process of identifying and profiling distinct groups of buyers who differ in their needs and wants. This allows marketers to tailor their marketing mix (product, price, promotion, and place) to better meet the needs of each segment, which can result in increased sales and profits. Option A describes repositioning, option B describes target market selection, option C describes branding, and option E describes marketing efficiency.

Which of the Following Statements About Market Segmentation Is True