Final answer:
Market segmentation is most directly related to d)the marketing concept, which aims to meet customer needs. It allows for the efficient allocation of scarce resources and aligns with the goal of achieving consumer surplus through tailored strategies.
Step-by-step explanation:
Market segmentation is a logical outgrowth of d. the marketing concept. The marketing concept focuses on identifying and meeting the needs and wants of customers.
Market segmentation involves dividing a broad target market into subsets of consumers with common needs, characteristics, or behaviors, and then designing and implementing strategies tailored to these segments.
This approach is critical for creating efficiency in the distribution of goods and services, ensuring that customer demands are met effectively, which in turn can lead to achieving consumer surplus where consumers are getting greater value than the price they pay.
Markets play a key role in the allocation of scarce resources, and the demand and supply model is central to understanding market dynamics including policies such as price controls and minimum wages.