Asked by
Charlotte Calvert
on Dec 14, 2024
Verified
Market segmentation refers to
A) identifying small groups of customers with dissimilar needs.
B) aggregating prospective buyers into groups and selecting only those whose needs cannot be met by competitors' products.
C) aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.
D) aggregating different products into more reasonable product groupings to better serve consumers' needs.
E) those characteristics of a product that make it superior to competitive substitutes.
Market Segmentation
The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors who might require separate products or marketing strategies.
Prospective Buyers
Individuals or entities showing interest in purchasing a product or service, being considered potential customers by sellers.
Marketing Action
Any strategy or activity undertaken by a company to promote its products or services and achieve its marketing objectives.
- Comprehend the categorization of markets and the notion of value propositions to customers.
Verified Answer
MA
Learning Objectives
- Comprehend the categorization of markets and the notion of value propositions to customers.