Which of the following is not a need of potential client as per Market Segmentation ? i. Functional needs. ii. Financial needs. iii. Emotional needs. iv. Epistemic needs. Codes :
i, iii and iv are correct
In market segmentation, users are grouped by the needs and values that drive their choices; the widely used consumption-value framework of Sheth, Newman and Gross recognises functional, emotional, epistemic, social and conditional values.
Functional needs relate to practical utility, emotional needs to feelings aroused by a product or service, and epistemic needs to curiosity and the desire for knowledge or novelty – all three are recognised client needs.
Financial needs are not one of these segmentation needs, so financial needs is the item that does not belong.
Therefore the code listing the recognised needs, functional, emotional and epistemic, identifies financial needs as the one that is not a need.
Hence, i, iii and iv are correct.
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