Which is the first step in market segmentation? . Finding one or two demographic characteristics to...
Which is the first step in market segmentation?
| . |
Finding one or two demographic characteristics to divide up the whole mass market. |
|
| b. |
Clustering people with similar needs into a market segment. |
|
| c. |
Breaking apart all possible needs into some generic markets and broad product markets in which the firm may profitably operate. |
|
| d. |
Evaluating market segments to determine if they are large enough. |
|
| e. |
None of the above |
Homework Answers
Option C
For market segmentation, the first step is to define and name a broad product market that is related to the preferences and interest of the firm. There should be process followed to segregate products with generic markets and markets where firm can sell its product profitably
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