The purpose of market segmentation is to:
a. change consumer attitudes and beliefs toward a product.
b. divide a market into submarkets of equal size that have equal number of customers in each.
c. group a large number of markets together, enabling a company to serve them simultaneously.
d. enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments.
ANSWER: d
The purpose of market segmentation is to enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments. Market segmentation is the process of dividing a market into meaningful, relatively similar, and identifiable segments or groups.
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