Market segmentation
A. assumes that most markets can be satisfied by the same marketing mix
B. is the same thing as positioning
C. tries to identify homogeneous submarkets within a larger market
D. means the same thing as marketing mix
E. identifies homogeneous and heterogeneous submarkets
Answer: (C) Market segmentation is the process of dividing a large, heterogeneous market comprised of consumers with diverse needs into smaller, homogeneous submarkets (C). The notion of segmentation runs contrary to the assumption that most markets can be satisfied with the same offering (A). Segmentation may precede positioning in the overall scheme of target marketing, but they are clearly not the same thing, so (B) is false. Likewise, segmentation is not the same as a marketing mix since the latter involves the product, place, price, and promotion strategies of a firm, so (D) too is incorrect. (E) is incorrect since market segmentation actually tries to isolate homogeneous submarkets within the total heterogeneous market.