Practice Quiz

CLEP Marketing

Category - Segmentation

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Companies and corporations use market segmentation primarily:
  1. To create niche markets for their products
  2. To position themselves better against competition
  3. To offer consumer-tailored products and services
  4. To improve the effectiveness of marketing campaigns
  5. To promote corporate ethics and responsibility
Explanation
Answer: C - Companies and corporations use market segmentation primarily to offer consumer-tailored products and services. Market segmentation aims to respond to specific consumer wants and needs. It also allows consumers to commit their effort and resources to evaluate specific marketing information that is relevant to these needs. Directing marketing information also reduces companies’ expenditure on products and services that may not interest consumers.
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