The first step in the target market process is to:
A) segment the market
B) develop new products
C) determine the marketing positioning strategy
D) select a target market

Question

Quizplus · Accepted Answer

The first step in the target market process is to segment the market, which involves dividing a broader market into smaller groups of consumers with similar needs or characteristics. This enables businesses to tailor their marketing efforts more effectively, by developing specific marketing mixes for each segment. Only after market segmentation has been completed, can a business identify target markets, develop positioning strategies, and create products that will appeal to those markets.

The First Step in the Target Market Process Is To