The Main Difference Between Naming Broad Product-Markets and Market Segmentation

question 151

Multiple Choice

The main difference between naming broad product-markets and market segmentation is:

• A) naming is a computerized process, while segmentation requires more thought.
• B) naming is concerned with customers, while segmentation is concerned with product features.
• C) naming involves breaking down markets, while segmentation involves aggregating customers with similar needs.
• D) naming involves looking for similarities, while segmentation involves looking for differences.
• E) None of the above is true.

---

Definitions:

Existing Markets

The current and operational markets where products or services are already being distributed or consumed.

High Barriers to Entry

Conditions that make it difficult for new competitors to enter a market, including high costs, strict regulations, or established brands.

Low Power of Suppliers

A business situation where suppliers have little control over the pricing and terms of products being supplied, enhancing the bargaining power of the purchasing company.

Hypercompetition

An extremely competitive business environment characterized by rapid and constant changes in technology, customer preferences, and market dynamics.