Before beginning the market segmentation process,a firm should:
A)select target market segments.
B)forecast total market potential.
C)forecast market share.
D)identify bases for segmenting markets.

Question

Quizplus · Accepted Answer

Before beginning the market segmentation process, a firm should identify bases for segmenting markets. This involves understanding the different variables that can be used to group consumers with similar needs or characteristics together. Without this step, it would be difficult to determine which target market segments make the most sense to go after or how to tailor marketing efforts to meet their specific needs. Forecasting the total market potential and market share come later in the process, after the segments have been identified. Selecting target market segments is also a later step, after the segments have been evaluated and prioritized.

Before Beginning the Market Segmentation Process,a Firm Should