Asked by Danielle Woods on Jun 10, 2024
Verified
Market segmentation attempts to isolate the traits that distinguish a certain group of consumers from the overall market.
Market Segmentation
The process of dividing a target market into smaller, more defined categories of consumers who share similar characteristics and needs.
- Become familiar with the understanding and value of market segmentation and its procedural methods.
Verified Answer
RM
Rachel MegdalJun 14, 2024
Final Answer :
True
Explanation :
Market segmentation involves dividing a broad target market into subsets of consumers who have common needs, interests, and priorities, and then designing and implementing strategies to target them. This process indeed aims to identify and isolate the traits that distinguish these groups from the overall market to better meet their specific needs.
Learning Objectives
- Become familiar with the understanding and value of market segmentation and its procedural methods.
Related questions
Income Is Perhaps the Most Volatile Factor in Demographic Segmentation ...
To Develop Psychographic Segments, the Marketer Must Understand Consumers ...
Automobile Manufacturers Could Build Cars Specially Designed for Very Tall ...
The Value and Lifestyle Survey (VALS)conducted by Strategic Business Insights ...
Baby Boomers Represent a Huge Demographic Segment for Travel Marketers ...