Market segmentation can help marketers increase their accuracy in reaching the right markets, but it is best used flexibly with other marketing tools. Choose the statement below that best summarizes the market segmentation process.

Market segmentation can be applied in both for$-$profit and nonprofit organizations to determine a consumer target market.

Market segmentation is accomplished in four steps: it employs user profiles; forecasts the overall market; estimates the market share; and selects specific target markets.

Market segmentation can be accomplished with many approaches: geographic, demographic; psychographic, and product$-$related.

Market segmentation methods can be management$-$driven, based on management's observations, or market$-$driven, based on customer response.

Market segmentation can be used to calculate a lifetime value for each customer in a segment.