BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Some companies that tried mass customization have scaled back their attempts because it is not cost-effective. The goal of homogeneity in customers’ likes or dislikes is more achievable as the segment size gets smaller, but if the segment is too small, it might not be profitable to serve.

Detailed explanation-2: -Which of the following is true of market segmentation? It helps firms design specific marketing strategies suited for specific market segments.

Detailed explanation-3: -1. Group potential buyers into segments. 2. Group products to be sold into categories.

Detailed explanation-4: -Positioning is a marketing strategy that aims to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer.

Detailed explanation-5: -Market segmentation refers to aggregating prospective buyers into groups with common needs and who respond similarly to a marketing action.