Why do organizations segment their customer base?
Understand the Problem
The question is asking why organizations segment their customer base. The options provided are: A) To target new customers and retain existing customers B) To provide better service C) To reduce the risk of customers defecting to competitors D) All of the above
Answer
OD) All of the above
The correct answer is OD) All of the above
Answer for screen readers
The correct answer is OD) All of the above
More Information
Organizations segment their customer base to target new customers, retain existing customers provide better service, and reduce the risk of customers defecting to competitors. Market segmentation helps businesses understand their customer base and tailor their products or services to meet specific needs.
Tips
Be aware of answers that are too similar, and look for 'all of the above' type answers.
Sources
- Market Segmentation: Definition, Types, Benefits, & Best Practices - qualtrics.com
- Market Segmentation: Definition, Example, Types, Benefits - investopedia.com
- Why do companies use market segmentation? - Quora - quora.com
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