The growing need for marketers to practice segmentation and target marketing is a direct result of...
The growing need for marketers to practice segmentation and target marketing is a direct result of the growing consumer desire for products that are tailored to meet their needs.
| a) | True | |
| b) | False |
Homework Answers
The answer is option a) True.
Market segmentation means dividing the broad market into sub-markets on the basis of some criteria. Like segmentation could be done on the basis of gender, age, demographics, socio-cultural factors etc.
So businesses try to identify the needs of the consumers and divide the consumers with similar needs in 1 group (called as segmentation). Then, the product is targeted to the specific group of consumers.
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