Which of the following is the first step of the market segmentation process?
A) To conduct advertising research to determine consumers' reactions to various ad campaigns
B) To identify groups of people with certain shared needs
C) To aggregate groups of people or organizations into larger market segments
D) To develop place, time, and possession utility
E) To determine which personal influences will have an appropriate effect on consumers

Question

Quizplus · Accepted Answer

The process of market segmentation involves two steps: identifying groups of people (or organizations) with certain shared needs and aggregating (combining) these groups into larger market segments according to their interest in the product's utility.

Which of the Following Is the First Step of the Market