The Purpose of Market Segmentation Is to

question 106

Multiple Choice

The purpose of market segmentation is to

• A) differentiate products.
• B) divide a total market to enable a marketer to develop a more precise marketing mix.
• C) reduce the overall cost of marketing activities.
• D) identify a single marketing mix that will be satisfactory for the general market.
• E) meet the needs of homogeneous markets.

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Definitions:

Post-Purchase Evaluation

The process customers go through after buying a product or service, assessing their satisfaction or dissatisfaction and how well the product or service met their expectations.

Alternative Evaluation

Involves the process of assessing different options or solutions in decision-making contexts to determine their viability, based on criteria such as cost, benefits, and potential risks.

Marketing Research

The process of gathering, analyzing, and interpreting information about a market, including potential customers and competitors, to inform business decisions.

Small Businesses

Companies with a limited number of employees and revenue, playing a significant role in the economy.