Market segments refer to
A)the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.
B)all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
C)the smallest number of buyers that have similar needs but do not react similarly in a buying situation.
D)the relatively homogenous groups of prospective buyers that (1)have common needs and (2)will respond similarly to a marketing action.
E)all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.

Question

Quizplus · Accepted Answer

Market segments are groups of prospective buyers who have common needs and will respond similarly to marketing actions. Therefore, the best choice is option D. Option A refers to the result of the segmentation process, not the definition of market segments. Option B refers to repeat customers, not market segments. Option C describes a situation where the needs are similar, but the behavior is not, which is not a definition of market segments. Option E refers to potential buyers who have not yet purchased a firm's products, not a definition of market segments.

Market Segments Refer to