Question
Marketers need to know the needs and wants of their customers to provide products that will satisfy their needs. They do so by way of market segmentation, which is defined as:
A.
The practice of identifying a single target market to maximise sales efforts.
B.
The strategy of developing products that cater to only high-income customers.
C.
The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviours.
D.
The method of promoting products to all potential customers in a generalised manner
A.
The practice of identifying a single target market to maximise sales efforts.
B.
The strategy of developing products that cater to only high-income customers.
C.
The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviours.
D.
The method of promoting products to all potential customers in a generalised manner
Answers
GPT-4o mini
The correct definition of market segmentation is:
**C. The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviours.**
This definition captures the essence of market segmentation as it emphasizes the identification of various segments within a broader market.
**C. The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviours.**
This definition captures the essence of market segmentation as it emphasizes the identification of various segments within a broader market.