The First Target Store Opened in 1962

question 26

Multiple Choice

The first Target store opened in 1962. Its initial strategy was to set prices low to attract a large number of buyers quickly and win a large market share. This is referred to as ________.

• A) market-skimming pricing
• B) market-penetration pricing
• C) value-added pricing
• D) target costing
• E) deceptive pricing

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Definitions:

Sales Territory

A specific geographic area or segment of customers assigned to a salesperson or team for the purposes of marketing and sales.

Forming Sales Territories

The process of dividing a market into distinct geographic areas in order to assign sales responsibilities, optimize coverage, and maximize sales efficiency.

Break-even Analysis

An assessment to determine the point at which revenue received equals the costs associated with receiving the revenue, indicating no net loss or gain.

Time Management Tool

A device or software used to organize, plan, and allocate one's time efficiently for tasks and activities.