BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
complete customer population at a marketplace.
|
|
|
group of industrial customers with variable wants and needs
|
|
|
customer group who share similar inclinations toward a brand.
|
|
|
homogenous customer group broken down into groups that are heterogeneous.
|
Detailed explanation-1: -The division of a broad market into small segments comprising of individuals who think on the same lines and show inclination towards similar products and brands is called Market Segmentation.
Detailed explanation-2: -Market segmentation is a marketing strategy in which select groups of consumers are identified so that certain products or product lines can be presented to them in a way that appeals to their interests.
Detailed explanation-3: -Market segmentation is the process of dividing the market into subsets of customers who share common characteristics. The four pillars of segmentation marketers use to define their ideal customer profile (ICP) are demographic, psychographic, geographic and behavioral.
Detailed explanation-4: -The two do overlap, but each has its own uses. While customer segmentation is about grouping customers together based on their characteristics and behaviour, market segmentation focuses on grouping customers by the products or services they purchase, such as software.
Detailed explanation-5: -Market segmentation is the process of dividing the market in to groups of consumers who respond in a similar way to a given set of marketing stimuli (e.g. price, product features) or, alternatively, groups of consumers/customers with homogeneous needs or preferences.