Which of the following constitutes a viable market segment?
A)A particular group of consumers who have varying preferences for products and services
B)A particular group of consumers of a single item who can be served profitably by a firm
C)A group of products and services that can be mass marketed profitably by a firm
D)A group of consumers with needs that can be seldom met by a single product item offered by a firm

Question

Quizplus · Accepted Answer

A viable market segment is a group of consumers who share similar needs or characteristics and can be served profitably by a company. Option B describes such a group of consumers who are looking for a single product or service that can be offered by a company for profit. Option A describes a group with varying preferences, which may not be a viable market segment as it becomes difficult to cater to their needs. Option C describes a group of products and services, not a market segment, and option D describes a group with needs that cannot be met by a single product, which may not be a profitable segment for a company.

Which of the Following Constitutes a Viable Market Segment