Market segmentation relies on the discovery of significant differences through the application of proper data analysis

Question

Quizplus · Accepted Answer

Market segmentation involves dividing a larger market into smaller groups based on certain characteristics or behaviors. However, to effectively segment a market, it's essential to identify significant differences between the different groups. This requires proper data analysis, such as statistical techniques or data mining, to uncover meaningful patterns and insights that can inform segmentation strategies. Therefore, the statement that market segmentation relies on the discovery of significant differences through the application of proper data analysis is true.

Market Segmentation Relies on the Discovery of Significant Differences Through