Which Is the First Step in Market Segmentation

question 20

Multiple Choice

Which is the first step in market segmentation?

• A) Finding one or two demographic characteristics to divide up the whole mass market.
• B) Clustering people with similar needs into a market segment.
• C) Naming a broad product-market of interest to the firm.
• D) Evaluating market segments to determine if they are large enough.
• E) None of the above.

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Definitions:

Normally Distributed

A type of distribution where data points are symmetrically distributed, forming a bell-shaped curve, with most values clustering around the mean.

Conservation Measures

Actions and policies implemented to preserve natural environments, protect wildlife, and conserve resources for future generations.

Normally Distributed

A probability distribution with symmetry around the mean, signifying that data points nearest to the mean are encountered more often than those further out.

Potential Employees

Individuals who are considered possibilities for employment within an organization, typically evaluated during the recruitment process.