To be identified as a market segment,its members must
A)represent a large share of the entire market and have buying power.
B)have common needs and respond similarly to a marketing action.
C)have different needs and have potential for future growth.
D)have different needs and respond similarly to market actions.
E)have the potential for future growth and increased profit or ROI.

Question

Quizplus · Accepted Answer

To be identified as a market segment, its members must have common needs and respond similarly to a marketing action. This is the basis of market segmentation - grouping consumers with similar needs and characteristics to tailor marketing efforts towards them. While having a large share of the market and buying power, having different needs, potential for future growth, and increased profit/ROI may be beneficial factors for a market segment, they are not the defining characteristics.

To Be Identified as a Market Segment,its Members Must