Economic segmentation, dividing a market into relatively homogeneous subgroups that behave much the same way in the marketplace, is the necessary precursor to selecting a target market or target markets.Group of answer choicesTrueFalse

Market segmentation refers to:Select one:a.Dividing the market into geographic regionsb.Dividing the market into high-income and low-income consumersc.Dividing the market into smaller groups based on similar characteristicsd.Dividing the market into product categories

Dividing the market using a group's values, attitudes, and interests is segmentation.

The goal of segmentation is to segment the whole market into smaller groups, making it easier to work with groups containing customers with similar attitudes, interests and  opinions.Group of answer choicesTrueFalse

What is/are the main purpose of segmenting a market?Select one:a.All of themb.More market orientedc.Dividing up potential market for a product into groupsd.Meet customers' needs

The data preparation technique used in market segmentation to divide consumers into different homogeneous groups is called