Which statement characterizes market segmentation?

Multiple Choice

It combines small groups of consumers into one large market with various needs.

It helps a firm procure goods, services, or ideas from a third$-$party supplier.

It is the process of conceiving, testing, and launching a new product in the marketplace.

It does not play an important role in the success of an organization.

It helps firms design specific marketing $$trategies suited for specific groups of consumers.