The Purpose of Market Segmentation Is To

question 53

Multiple Choice

The purpose of market segmentation is to:

• A) reduce the market down to a size 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:

Public Entertainment

Activities or performances designed for the enjoyment of the public, often accessible to a wide audience and including events such as concerts, movies, and sporting events.

Dominant Strategy

A strategy that yields the best payoff for a player, regardless of what strategies other players use.

Wealth

The total value of all the economic resources owned by an individual or entity.

Contribute

To give something, such as time, money, or resources, towards a common goal or cause, often for the benefit of a larger group or project.