A market segment is a group of
A) customers within a market that can be different from each other on the basis of their distinct attributes and specific demands.
B) companies that produce similar goods or services.
C) customers within a market that purchase goods or services in similar quantities.
D) customers within a market that have similar levels of profitability.
E) none of these.

Question

Quizplus · Accepted Answer

A market segment refers to a group of customers within a larger market who share similar characteristics and needs. These characteristics often include demographics, psychographics, behavior, and location, among others. Therefore, choice A is the best answer as it captures the essence of market segmentation. The other options are not accurate as they do not reflect the concept of market segment.

A Market Segment Is a Group of