Which of the following statements regarding when and how to segment markets is most accurate?
A)Even if a firm finds only one potential market segment, it should take advantage of the method to appear cutting-edge to its competitors and customers.
B)Market segmentation only works for large corporations; small businesses don't have the resources to engage in the process.
C)Governments should not attempt market segmentation because the strategy is only applicable for consumer and organizational markets.
D)If a business firm goes to the trouble and expense of segmenting its markets, it expects to increase its sales, profits, and return on investment.
E)Market segmentation strategies work less than 10 percent of the time

Question

Quizplus · Accepted Answer

Market segmentation is a useful tool for businesses to increase their sales and profits by targeting specific groups of consumers with tailored marketing strategies. However, it is important for businesses to weigh the potential benefits against the costs of segmentation. Therefore, if a business decides to engage in market segmentation, it should expect to see an increase in sales, profits, and return on investment.

Which of the Following Statements Regarding When and How to Segment