Asked by Nitika Upadhyaya on Jul 04, 2024
Verified
Market segmentation divides the market into homogenous groups or segments.
Market Segmentation
The process of dividing a target market into smaller, more defined categories of consumers who share similar characteristics and needs.
- Grasp the importance of segmentation, targeting, and positioning in marketing.
Verified Answer
ZK
Zybrea KnightJul 06, 2024
Final Answer :
True
Explanation :
Market segmentation involves dividing a broad target market into subsets of consumers who have common needs and priorities, and then designing and implementing strategies to target them. These segments are intended to be homogeneous within each segment and heterogeneous between segments, allowing for more tailored marketing strategies.
Learning Objectives
- Grasp the importance of segmentation, targeting, and positioning in marketing.