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What is the primary purpose of market segmentation in marketing?
What is the primary purpose of market segmentation in marketing?
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What is the primary purpose of market segmentation in marketing?
To increase production efficiency
To identify specific customer needs
To reduce marketing costs
To enhance employee performance
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Market segmentation helps businesses identify specific customer needs, allowing for targeted marketing strategies.
Questions & Step-by-step Solutions
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Q
Q: What is the primary purpose of market segmentation in marketing?
Solution:
Market segmentation helps businesses identify specific customer needs, allowing for targeted marketing strategies.
Steps: 5
Show Steps
Step 1: Understand that market segmentation is the process of dividing a larger market into smaller groups of people.
Step 2: Recognize that these smaller groups, or segments, share similar characteristics or needs.
Step 3: Identify that the primary purpose of market segmentation is to understand what different customers want.
Step 4: Realize that by knowing specific customer needs, businesses can create marketing strategies that are more effective.
Step 5: Conclude that targeted marketing strategies help businesses reach the right customers with the right message.
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