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)identify market needs
C)take marketing actions to reach target markets
D)develop a market-product grid and estimate size of markets
E)form prospective buyers into market segments

Question

Quizplus · Accepted Answer

After grouping products into categories, the next step is to develop a market-product grid, which involves identifying which products will be offered to which segments of the market. The marketer should estimate the size of each market segment, as this information will inform their targeting and positioning strategies. After completing the market-product grid, the marketer can then take marketing actions, such as product design, pricing, and promotion, to reach the target markets. Finally, the marketer can form prospective buyers into market segments, using demographic, psychographic, and behavioral variables to create distinct groups with different needs and preferences. Therefore, the correct choice is D.

There Are Five Steps Involved in Segmenting and Targeting Markets