Marketing segmentation groups together people that have common needs and who will respond similarly to the marketing mix. True False

The statement is True.

Marketing segmentation is indeed the process of dividing a broad consumer or business market into sub-groups of consumers based on shared characteristics. These common needs may include demographics, psychographics, behaviors, and other factors. By identifying and grouping these segments, marketers can tailor their marketing strategies to meet the specific needs of each segment more effectively. This allows for a more efficient allocation of resources and increases the likelihood that the marketing mix—comprised of product, price, place, and promotion—will resonate with each group. Hence, this statement accurately reflects the principles of marketing segmentation.