GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Market Segment: a group of customers who share similar inclinations toward a brand.
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: -Market segmentation is a marketing strategy that uses well-defined criteria to divide a brand’s total addressable market share into smaller groups. Each group, or segment, shares common characteristics that enable the brand to create focused and targeted products, offers and experiences.
Detailed explanation-4: -Market segments are relatively homogeneous groups of prospective buyers that result from the market segmentation process. Each market segment contains people who are relatively similar to each other in terms of their needs and consumption behaviour.