Question

An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious individuals, and people identified as trendsetters who try out new products in the market before others. These three groups are examples of ________.
a) marketing mixes
b) market segments
c) value propositions
d) market offerings
e) marketing intermediaries

Answer 1

Answer:

The correct answer is b) market segments.

Explanation:

A market segment is a group of consumers, it is mostly homogeneous either by certain characteristics or by their needs, which are identified as a market that presents similar desires or buying habits and that would potentially respond similar to the strategy developed by the marketing mix.

Through market segmentation you will be able to identify the segment to be served and establish the strategy to achieve it. At the time of segmenting the market you can do so by responding to the strategy you wish to apply:

• Differentiated: taking into account that the segment to be attended is heterogeneous and the product or service to be offered is built to meet the particular needs of each client.
• Undifferentiated: based on the needs that the group commonly responds. Here the product or service satisfies each client corresponding to the indicated segment in the same way.
• Concentrated: it is the most specialized strategy of the three. The idea here is to concentrate efforts in the segment where a strong comparative advantage is achieved.