Determine the characteristic for each market segment. This segment contains a common element that unifies its members. This segment contains an element that separates it from other segments. This segment is based on the response of members with a certain outlook. distinction arrowRight homogeneity arrowRight reaction

Market segmentation is a marketing term that refers to aggregating prospective buyers into groups or segments with common needs and who respond similarly to a marketing action. Market segmentation enables companies to target different categories of consumers who perceive the full value of certain products and services differently from one another.

KEY TAKEAWAYS

Market segmentation seeks to identify targeted groups of consumers to tailor products and branding in a way that is attractive to the group.

Markets can be segmented in several ways such as geographically, demographically, or behaviorally.

Market segmentation helps companies minimize risk by figuring out which products are the most likely to earn a share of a target market and the best ways to market and deliver those products to the market.

With risk minimized and clarity about the marketing and delivery of a product heightened, a company can then focus its resources on efforts likely to be the most profitable.

Explanation: I was Just taking a test on this

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