What is the purpose of market segmentation?
A)to reduce the market to a specific size that the firm can handle
B)to divide the market into equal size and profit regions for sales territories
C)to enable the marketer to tailor marketing mixes to meet the needs of one or more specific groups
D)to develop a generalized definition of the market as a whole

Question

Quizplus · Accepted Answer

The purpose of market segmentation is to divide the market into distinct groups with similar needs, characteristics, or behaviors so that the marketer can create targeted marketing mixes that meet the specific needs of each group. This allows for more effective marketing and increased profitability. Option A and D are not accurate, while option B oversimplifies the concept of market segmentation.

What Is the Purpose of Market Segmentation