The purpose of the five key steps in segmenting and targeting markets is to
A)identify competitors that provide similar products that satisfy a firm's customers' needs.
B)provide guidance to reposition a firm's products.
C)generate new products ideas for firms that are not growing in market share.
D)link market needs of customers to the organization's marketing program.
E)correlate directly to each of the five environmental forces.

Question

Quizplus · Accepted Answer

The purpose of segmenting and targeting markets is to link market needs of customers to the organization's marketing program. This helps the organization to identify the specific needs of the customers within a particular market segment and develop marketing programs to meet those needs. This, in turn, leads to increased customer satisfaction and loyalty, and ultimately, increased sales and profits for the organization. The other options are either not directly related to market segmentation and targeting or are not accurate in their explanation.

The Purpose of the Five Key Steps in Segmenting and Targeting