Which statement accurately describes market segmentation? Market segmentation is
ID: 463731 • Letter: W
Question
Which statement accurately describes market segmentation?
Market segmentation
is a process of creating an image or identity of the product in the minds of the target market.
involves changing the product’s identity relative to the identity of competing products, in the collective minds of the target market.
is the quality of how marketers meet demand with the goal of optimizing their spending to achieve good results.
is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.
is a process of evaluating each segment's attractiveness and selecting one or more to enter.
a.is a process of creating an image or identity of the product in the minds of the target market.
b.involves changing the product’s identity relative to the identity of competing products, in the collective minds of the target market.
c.is the quality of how marketers meet demand with the goal of optimizing their spending to achieve good results.
d.is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.
e.is a process of evaluating each segment's attractiveness and selecting one or more to enter.
Explanation / Answer
Correct answer is option d i.e it is a process of identifying and profiling distinct group of buyers who differ in their needs and wants.Market sementation is a marketing strategy in which a broad target market is dividede into subsets of consumers,businesses and countries that have common needs and intereset and then designing the strategies to target them
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