arket segments are the relatively ________ groups of prospective buyers that result from the segmentation process.Multiple choice question.stableaffluentloyalhomogenous
Question
arket segments are the relatively ________ groups of prospective buyers that result from the segmentation process.Multiple choice question.stableaffluentloyalhomogenous
Solution
The correct answer is "homogenous". Market segments are the relatively homogenous groups of prospective buyers that result from the segmentation process. This is because market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or locations. Hence, they are homogenous.
Similar Questions
The following are criteria for forming segments: potential to reach a segment the similarity of needs of potential buyers in the segment potential to increase profit all of the above
In ______________ segmentation , buyers are divided into different groups on the basis of life style or personality and values
______ segmentation forms market segments based on the way consumers use a product, such as more frequently or with greater loyalty.Multiple choice question.LifestyleBehavioralBenefitSubstantial
Multiple Choice QuestionThe process of dividing the total market into groups whose members have similar characteristics is market Blank______.Multiple choice question.segmentationaccommodationconcentrationorientation
Match the following descriptions to the correct market segmentation terms.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.