Which of the following is the sequence in the market research process of a product

Correct option is C

The market research process begins with market segmentation, where the entire market is divided into homogeneous groups based on consumer characteristics. After segmentation, target marketing is carried out to select the most appropriate segment that the firm wants to serve. Once the target segment is selected, market positioning is done to create a distinct image of the product in the minds of consumers. Finally, market penetration strategies are adopted to increase market share within the chosen target market.
Information booster: Market segmentation helps firms to understand diverse consumer needs and preferences in a structured manner. Target marketing ensures efficient allocation of resources by focusing on specific consumer groups. Market positioning plays a crucial role in brand differentiation and competitive advantage. Market penetration strategies focus on increasing sales volume and customer base within existing markets.
Why other options are incorrect: (a) This option is incorrect because market segmentation must precede targeting and positioning decisions. (b) This option wrongly places market positioning before segmentation and targeting. (d) This option incorrectly starts with target marketing without prior segmentation.