Question: Market segmentation is defined as _ _ _ _ _ . a group of prospective buyers with similar interests and needs the act of further

Market segmentation is defined as _____.
a group of prospective buyers with similar interests and needs
the act of further refining a market group into one that is less specific but more easily understood
the act of further refining a market group into one that has the potential to influence future purchases
the aggregation of prospective buyers into groups that have common needs and respond similarly to a marketing action

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is currently in college at State University. Joe works as a design engineer for a manufacturing firm, while Jessie runs a craft...

Q:

MARKETING MANAGEMENT 1.1) An explanation of the two types of consumption specific segmentation bases. Support your answer with practical examples. (8 marks ) 1.5) Use pages 63-64 in your textbook as...

Q:

MARKETING MANAGEMENT 1.1) Conduct further research on the effect of covid-19 on consumer consumption globally. Also include insights on consumer snacking behavior and present your findings in...

Q:

J. of the Acad. Mark. Sci. (2013) 41:389-399 DOI 10.1007/s11747-013-0331-z CONCEPTUAL/THEORETICAL PAPER Elevating marketing: marketing is dead! Long live marketing! Frederick E. Webster Jr. & Robert...

Q:

Use the attached template below to make the STP of Puma SE Footwear in your own understanding? Consumers in the Footwear industry vary in their needs, wants, demands, resources, locations, access to...

Q:

Question 1(1 point) Saved One of Wal-Mart's advertising campaigns featured a round smiling yellow decimal point that looked like a happy face. This ad concentrated on showing that the large retailer...

Q:

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Q:

This is the second time that I have posted this message; regrettably, I did not get the whole response the first time. Would it be possible kindly read this paper and write a complete summary of this...

Q:

Marketing Segmentation, Targeting, and Positioning (STP) In order to be an effective and efficient business, firms should seek out their target customer market. A good understanding of the principles...

Q:

I am working on my group project for the class teaching by prof. Karen Kukla. My group chose the business EduXperience . There are 3 part of the project: and I need help for question 2. Description...

Q:

I am working on my group project for the class teaching by prof. Karen Kukla. My group chose the business EduXperience . There are 3 part of the project: and I need help for question 2. Description...

Q:

Requiring every American to get mandatory health care insurance has been a controversial part of health care reform debates in the United States. Putting aside other arguments for or against...

Q:

In Berksdale, Nebraska, the mean number of major fires is .071 on any given day. What is the probability that no major fires will occur in Berksdale in any given week (7 days)? What is the...

Q:

24. Appliance Solutions began operations November 1, 20X1. The firm sells its merchandise for cash and on open account. Sales are subject to a 6 percent sales tax. During November, Appliance...

Q:

you will be implementing a Lexicon class. This Lexicon class will maintain a list of words, and the user will be able to query the Lexicon as to whether or not a word is in the Lexicon, the user will...