When a Strategist Divides the Total Market for a Product

question 40

True/False

When a strategist divides the total market for a product or service into groups with similar needs, so that each group is likely to respond to the same marketing strategy, he or she is engaging in a practice called market segmentation.

---

Definitions:

GDP

Gross Domestic Product, the total market value of all final goods and services produced within a country in a given period, used as a broad measure of economic performance.

Deflation

A decrease in the general price level of goods and services, often leading to increased purchasing power of money.

Real GDP

The measurement of a country's economic output adjusted for price changes (inflation or deflation), reflecting the real quantity of goods and services produced.

GDP

Gross Domestic Product, a measure of a country's economic output and performance, representing the total value of all goods and services produced over a specific time period.