In the market segmentation step involving the study of consumer needs and wants,it is advisable for a company to _____.
A) forego undiscovered needs even if it possesses adequate venture capital to uncover them
B) transcend the barriers that the industry places upon its range of need satisfaction activities
C) use this step for generation for theoretical strategies, rather than operational concepts
D) modify or enhance offerings with relevant changes in technology for practical benefit

Question

In the market segmentation step involving the study of consumer needs and wants,it is advisable for a company to _____.
A) forego undiscovered needs even if it possesses adequate venture capital to uncover them
B) transcend the barriers that the industry places upon its range of need satisfaction activities
C) use this step for generation for theoretical strategies, rather than operational concepts
D) modify or enhance offerings with relevant changes in technology for practical benefit

Quizplus · Accepted Answer

As a practical matter, new technology often brings about an investigation of consumer needs and wants for new or modified products and services. In these situations, the firm is seeking the group of consumers whose needs could best be satisfied by the new or modified product.

In the Market Segmentation Step Involving the Study of Consumer