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What is the primary goal of market segmentation?
What is the primary goal of market segmentation?
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Practice Questions
1 question
Q1
What is the primary goal of market segmentation?
To increase production efficiency
To identify specific customer needs
To reduce marketing costs
To enhance product features
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Market segmentation aims to identify specific customer needs to tailor marketing strategies effectively.
Questions & Step-by-step Solutions
1 item
Q
Q: What is the primary goal of market segmentation?
Solution:
Market segmentation aims to identify specific customer needs to tailor marketing strategies effectively.
Steps: 5
Show Steps
Step 1: Understand that market segmentation is about dividing a larger market into smaller groups.
Step 2: Recognize that these smaller groups consist of customers with similar needs or characteristics.
Step 3: Identify that the primary goal is to find out what these specific needs are.
Step 4: Learn that by knowing these needs, businesses can create marketing strategies that are more effective.
Step 5: Conclude that the ultimate aim is to better satisfy customers and improve sales.
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