Market segmentation helps business firms to respond more effectively to the wants of groups of potential buyers in order to
A)maintain market share.
B)increase sales and profits.
C)assume social responsibility.
D)use the firm's resources most efficiently.
E)provide the best quality products on the market.

Question

Quizplus · Accepted Answer

Market segmentation allows business firms to identify the specific needs and preferences of different groups of potential buyers, and then tailor their marketing strategies and product offerings to better appeal to those groups. As a result, this targeted approach can lead to increased sales and profits, making option B the best choice.

Market Segmentation Helps Business Firms to Respond More Effectively to the Wants