Question: Consumers needs and wants are just too difficult to be satisfied across-the-board with a single product. Hence, the need for market segmentation. Within the STP

Consumers needs and wants are just too difficult to be satisfied across-the-board with a single product. Hence, the need for market segmentation. Within the STP (Segmentation, Targeting and Positioning) process, segmentation is followed by market targeting and product positioning.

Explain any three prerequisites for effective market segmentation to take place. Note: marks will be awarded for proper referencing and paraphrasing of this question. No marks will be awarded for only naming the prerequisites

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