The Purpose of Market Segmentation Is To

question 88

Multiple Choice

The purpose of market segmentation is to:

• A) reduce the market down to a specific size that the firm can handle
• B) divide the market into equal size and profit regions for sales territories
• C) group a large number of markets together enabling a company to serve them simultaneously
• D) develop a generalized definition of the market as a whole
• E) enable the marketer to tailor marketing mixes to meet the needs of one or more specific groups

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Definitions:

Negotiate

The process of discussing terms to reach a mutual agreement in transactions, contracts, or disputes.

Implied Warranty

A legal assumption that the goods sold meet certain quality standards, including that they are fit for the standard purposes for which such goods are sold.

Express Warranty

A clearly stated promise or guarantee regarding the condition or performance of a product or service.

Warranty Of Trade Usage

A guarantee implied in a transaction, based on the customary practices and standards in a particular industry.