Question

Market segments refer to
A. the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.
B. all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
C. the smallest number of buyers that have similar needs but do not react similarly in a buying situation.
D. the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action.
E. all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.

Answer 1

Answer:

The correct option is (D)

Explanation:

Market segment refers to a group of people who have similar attitude and characteristics and hence have similar product preference. These people are clubbed together to form a segment for marketing purpose.

Marketing techniques are more successful if implemented on a particular market segment as people are likely to respond predictably to a marketing plan or strategy.