Market segments refer to
A)the relatively heterogeneous group of prospective buyers that result from the market segmentation process.
B)the relatively homogenous group of prospective buyers that result from the market segmentation process.
C)the smallest unit of buyers that have similar needs but do not react similarly in a buying situation.
D)all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
E)all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.

Question

Quizplus · Accepted Answer

Market segments are the relatively homogenous group of prospective buyers that result from the market segmentation process. A market segment is a group of customers within a larger market who share similar characteristics that make them likely to respond in the same way to a marketing effort. By identifying and targeting specific market segments, firms can more effectively tailor their marketing mix to meet the needs and preferences of those customers.

Market Segments Refer to