In Order for the Marketer to Achieve Effective Market Segmentation

question 88

Multiple Choice

In order for the marketer to achieve effective market segmentation, which of the following conditions must exist?

• A) The segments must be small enough to manage effectively.
• B) It must be possible to do a regression analysis on potential segments.
• C) Consumers' needs for the product must be homogeneous.
• D) The firm must be able to sell effectively to the chosen segment with a specific sales price.
• E) The segment must have enough profit potential to justify the development of a special marketing mix for the segment.

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Definitions:

Philosophers

Thinkers who engage in critical study, analysis, and questioning of concepts pertaining to existence, knowledge, values, reason, mind, and language.

Society

A community of people living in a more or less ordered community, often characterized by its laws, customs, and organizations.

Invisible Hand

A metaphor introduced by Adam Smith to describe the self-regulating behavior of the marketplace, where individual self-interests unintentionally benefit society.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theories on capitalism and the invisible hand of the market.