Market segmentation and product differentiation are almost identical concepts, except that market segmentation puts more emphasis on "price" while product differentiation puts more emphasis on "promotion."

Question

Quizplus · Accepted Answer

Market segmentation and product differentiation are related concepts, but they are not identical. Market segmentation involves dividing a market into smaller groups of consumers with similar needs or characteristics, while product differentiation involves creating a product or service that is perceived by customers as unique or superior to that of competitors. While price and promotion may be factors in both strategies, they are not the main emphasis of either.

Market Segmentation and Product Differentiation Are Almost Identical Concepts, Except