Segmenting markets means that a company is ________.
A) dividing the market into meaningful smaller markets based upon common characteristics
B) selecting the markets to attack in the marketplace
C) selecting a corporate position to communicate to potential customers
D) identifying and calculating the churn rate in different markets
E) identifying the customers who have frequently purchased competitor's products or services

Question

Quizplus · Accepted Answer

Segmentation means dividing the market into smaller groups or segments with similar needs or characteristics. This allows a company to target specific segments with tailored marketing strategies and offerings, rather than trying to appeal to the entire market as a whole. This can lead to more efficient and effective marketing, as well as increased customer satisfaction and loyalty.

Segmenting Markets Means That a Company Is ________