To be identified as a market segment, members of the group must Multiple Choice have the potential for future growth and increased profit or ROI. have diverse needs and be willing and able to purchase the product. have diverse needs and have potential for future growth. be similar in terms of their consumption behavior. represent a large share of the entire market and have buying power.

Question

Business

Steele

17 January, 09:40

To be identified as a market segment, members of the group must Multiple Choice have the potential for future growth and increased profit or ROI. have diverse needs and be willing and able to purchase the product. have diverse needs and have potential for future growth. be similar in terms of their consumption behavior. represent a large share of the entire market and have buying power.

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Lauren · Answer 1

The correct answer is to be similar in terms of the behavior of consumption.

Explanation:

Market segmentation is the term which is defined as the classification of the prospective groups of consumer as per the needs as well as requirements and their tendency for generating the similar or alike response to a specific action of marketing.

It is the strategy which is useful in the business which might segment or divide the homogeneous consumer market to a proportion of sizeable and into a more defined segments or groups.

So, in order to acknowledge the market segment, the group members need to be similar in terms of the behavior of consumption.