Your Firm Has Decided to Localize Its Products and Services

question 108

Multiple Choice

Your firm has decided to localize its products and services to meet local market demands.A good approach to use would be ________ segmentation.

• A)place of residence
• B)psychographic
• C)usage
• D)positioning
• E)social class

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Definitions:

Need Identification

The process of determining and defining the requirements or needs of consumers or businesses.

Pareto Analysis

A statistical technique used to identify the most significant factors in a dataset, based on the principle that a small number of causes typically lead to a large majority of the effects.

Strategic Purchase

The acquisition of goods or services with a forward-looking approach, considering long-term benefits and alignment with an organization's goals.

Description by Brand

An approach to defining or describing products and services based on their brand identity or brand characteristics.