There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?
A) create product groupings
B) develop a market-product grid and estimate size of markets
C) identify market needs
D) take marketing actions to reach target markets
E) form prospective buyers into market segments

Question

Quizplus · Accepted Answer

After grouping products into categories, the marketer should develop a market-product grid and estimate the size of markets. This will help in identifying which categories have the most potential and which target markets to focus on. The other steps in segmenting and targeting markets include identifying market needs, forming prospective buyers into market segments, and taking marketing actions to reach target markets. However, developing a market-product grid is the next logical step after grouping products into categories.

There Are Five Steps Involved in Segmenting and Targeting Markets