Question Completion with the choices:
a. Minimize diluting resources across multiple segments
b. Identify key market segments to focus limited time and resources on
c. Determine who is most desirable to serve first
d. Focus on capturing the served market
Answer:
Segmenting the market based on their needs, geography, demographics, psychographics, and other factors, enables entrepreneurs to:
b. Identify key market segments to focus limited time and resources on.
Explanation:
Market segmentation divides customers or potential customers into groups based on their group needs, wants, and effective demand. Each group shares similar traits, e.g. demographics, interests, needs, or location. Market segmentation benefits the consumer as well as the company. The satisfaction of consumers is assured, and corporate resources are put to effective and strategic uses.
