Asked by Yaneisy Acosta on Sep 28, 2024
Market segments change in size as consumer buying habits and preferences change and as latent needs develop.
Market Segments
Groups of potential customers with similar needs, preferences, or characteristics that a company targets with specific marketing strategies.
Latent Needs
Desires or requirements of consumers that they are themselves not aware of.
Consumer Buying Habits
Patterns and behaviors that consumers exhibit in the search for, purchase, use, and disposal of products and services.
- Grasp the concept of market segment dynamics and their impact on marketing strategies.
Learning Objectives
- Grasp the concept of market segment dynamics and their impact on marketing strategies.
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