Market Segmentation Is

question 64

Multiple Choice

Market segmentation is

• A) the philosophy that to do a truly excellent job of marketing, a company should concentrate on only one customer segment at a time.
• B) sorting prospective buyers into groups that are willing to pay more than the cost of production for a good or service.
• C) disaggregating prospective buyers from groups into segments of one (individuals) and then creating specific products that will satisfy this person's unique needs.
• D) aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.
• E) the belief that it is possible to satisfy every customer's needs if you can identify the correct segment within which they belong.

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Definitions:

Premiums

The additional amount paid for a commodity or service above its basic cost, often associated with insurance policies or enhanced product features.

Prospect's Participation

The involvement or engagement of a potential customer in the sales process, often through interaction or providing feedback.

Product Use

Refers to the manner in which a product is utilized by the consumer, often determining its effectiveness, functionality, and satisfaction derived from it.

Appeal to the Prospect's Senses

A marketing or sales strategy that focuses on engaging the potential customer’s sensory experiences to influence their purchasing decisions.