The market segmentation process:
A)divides a market into distinct groups that have heterogeneous needs.
B)divides a market into distinct groups that will respond similarly to marketing actions.
C)offers one version of the product to all markets.
D)creates products for several markets that have independent needs.
E)positions products in the minds of prospects and customers.

Question

Quizplus · Accepted Answer

Market segmentation divides a market into distinct groups that will respond similarly to marketing actions. This allows companies to tailor their marketing strategies to each group in order to better meet their specific needs and preferences. By understanding the characteristics and behavior of each segment, companies can create targeted promotional messages, product designs, and pricing strategies that appeal to each group. Ultimately, this approach can help companies to maximize their revenue and profitability by focusing their efforts on the most promising market segments.

The Market Segmentation Process