The purpose of the five key steps in segmenting and targeting markets is to
A)help identify needs and wants of the consumer of which they themselves may not even be aware.
B)provide guidance to reposition products for greater effectiveness at the least cost to the firm.
C)help generate new products ideas for firms that are profitable but not growing in market share.
D)link market needs of customers to the organization's marketing program.
E)correspond directly to each of the five environmental forces.

Question

Quizplus · Accepted Answer

The purpose of segmenting and targeting markets is to link market needs of customers to the organization's marketing program, allowing the firm to create tailored strategies that meet the specific needs of each segment. By doing so, firms can better position their products, generate new ideas, and ultimately increase their market share. Option A may be an outcome of market segmentation, but it is not the purpose of it. Option B may be a benefit of market segmentation, but it is not the primary purpose of it. Option C is not an accurate description of the purpose of market segmentation. Option E is not relevant to the purpose of market segmentation.

The Purpose of the Five Key Steps in Segmenting and Targeting