Market Segmentation Refers to

question 121

Multiple Choice

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.

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Definitions:

Books

Physical or electronic publications consisting of written, printed, or illustrated work bound together for reading or study.

Inventory Cost

The total cost associated with holding and managing inventory, including storage, insurance, and obsolescence.

Building

A structure with a roof and walls, such as a house or factory, used for living, working, storage, or other purposes.

Scarce Resources

Resources that are limited in availability and cannot satisfy all wants and needs due to their limited supply.