Which of the following is the first step of the market segmentation process?
A) Determining the consumer needs and wants
B) Dividing the markets on relevant dimensions
C) Delineating the firm's current situation
D) Designing the marketing mix strategy

Question

Quizplus · Accepted Answer

A firm must do a complete situational analysis when embarking on a new or modified marketing program. At the marketing planning level, such an analysis aids in determining objectives, opportunities, and constraints to be considered when selecting target markets and developing marketing mixes.

Which of the Following Is the First Step of the Market