There Are Five Steps Involved in Segmenting and Targeting Markets

question 198

Multiple Choice

There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?

• A) create product groupings
• B) develop a market-product grid and estimate size of markets
• C) identify market needs
• D) take marketing actions to reach target markets
• E) form prospective buyers into market segments

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Definitions:

Population Proportion

The fraction or percentage of a population that exhibits a specific attribute or characteristic.

Small Bag

A compact container used for carrying personal items or goods.

Population Proportion

A measure indicative of the part of the entire population that possess a certain trait or feature.

Random Sample

A sample drawn from a population in such a way that every member of the population has an equal chance of being selected.