Marketing Research and Market Segmentation

When I read Chapter 8, I learned that to be successful, products must meet the wants and needs of potential customers. So, marketing research reduces risk by providing vital information to help marketing managers understand those wants and needs and translate them into marketing actions. This was very good information to learn.


When I read Chapter 9, I learned that market segmentation involves aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action. Organizations go to the expense of segmenting their markets when it increases their sales, profits, and ability to serve customers better. I never thought about it that way, so it was worthwhile to learn everything about this topic.




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