1.

Why should marketing managers must understand the importance of segmenting a

market? Explain answer.

Market segmentation is an effective way to allow the business to focus on their consumers’
behavior and their purchasing patterns. With the help of this approach, it will be easier for the
managers to be able to identify and have a better understanding about the needs and wants of
their customer. Also, segmenting a market enables the business to meet or even exceed to the
expectation of the target market. In this way, the firm could use their resources more effectively
since implementing a market segmentation allows the business to increase its profitability
because they already have an idea how to meet their customers’ requirements. Moreover, it will
be beneficial for a company to use market segmentation as a strategy because they have an
opportunity to assess the strengths and weaknesses of their competitors and could plan ahead
for the future.