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Question : Market segmentation helps in:

 

Option 1: Increasing production costs

Option 2: Maximizing market share

Option 3: Identifying target customers

Option 4: Eliminating competition


Team Careers360 9th Jan, 2024
Answer (1)
Team Careers360 19th Jan, 2024

Correct Answer: Identifying target customers


Solution : The correct answer is (c) Identifying target customers.

Market segmentation helps in identifying target customers. It involves dividing a larger market into distinct segments based on specific characteristics, needs, behaviors, or preferences. By segmenting the market, companies can gain a deeper understanding of different customer groups and tailor their marketing efforts to meet the specific needs and wants of each segment. This allows companies to focus their resources and efforts on the most relevant and profitable customer segments, leading to more effective marketing strategies, higher customer satisfaction, and better overall business performance.

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