The market segmentation process consists of which of the following? (Check all that apply.)

Question

Multiple select question.

Naming broad product markets

Clearly defining the marketing budget

Segmenting broad product markets into select target markets

Identifying key competitors in a market and analyzing their weaknesses

Answer 1

The market segmentation process consists of the following:

• Naming broad product markets
• Segmenting broad product markets into select target markets

These two options specifically relate to the process of market segmentation. The other options listed, such as clearly defining the marketing budget and identifying key competitors, are important elements of marketing strategy but are not directly part of the market segmentation process.