Market segmentation plays a very important role in developing a marketing strategy.Select the best definition of market segmentation from the choices below.
A)dividing the total available market into smaller, similar groups
B)dividing the company profits for distribution among shareholders
C)dividing the marketing budget that will be used in world markets and in the United States
D)dividing the workload among marketing department employees
E)dividing the total market into two distinct groups, the global market and the U.S. market

Question

Market segmentation plays a very important role in developing a marketing strategy.Select the best definition of market segmentation from the choices below.​
A)​dividing the total available market into smaller, similar groups
B)​dividing the company profits for distribution among shareholders
C)​dividing the marketing budget that will be used in world markets and in the United States
D)​dividing the workload among marketing department employees
E)​dividing the total market into two distinct groups, the global market and the U.S. market

Quizplus · Accepted Answer

Market segmentation is the process of dividing the total available market into smaller, similar groups based on characteristics such as demographics, psychographics, behavior, and needs. This helps marketers tailor their marketing strategy to specific segments and meet their unique needs and preferences. The other choices are not relevant to the definition of market segmentation.

Market Segmentation Plays a Very Important Role in Developing a Marketing