Discussion
Market segmentation is a process of taking the total heterogenous market for a product and dividing it into several segments each of which tends to be ............. in all significance.
Answer: C
Each segment tends to be homogeneous in all significant respects.
Market segmentation, as defined by William J. Stanton, takes the total heterogeneous market for a product and divides it into several sub-markets or segments, each of which tends to be homogeneous in all significant aspects. Buyers within a segment share similar needs, characteristics or behaviour, so the firm can design a marketing mix that suits them, while the segments differ from one another.
'Different' describes how segments relate to each other, not what each segment is like inside. 'Special' and 'indigeneous' (indigenous) do not describe the purpose of segmentation, which is to create groups that are internally alike.
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