When a Strategist Divides the Total Market for a Product

question 106

True/False

When a strategist divides the total market for a product and/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.

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Definitions:

Quality of Work

Quality of work refers to the degree to which a job or task is performed with excellence, accuracy, and thoroughness.

Benevolents

Individuals who are inclined to perform acts of kindness or charity.

Perceived Inequity

The belief that one is receiving less than they are giving or less than they deserve compared to others, often causing dissatisfaction.

Expectancy Theory of Motivation

A psychological theory suggesting that individuals are motivated to engage in behaviors based on the expected outcome and the value of that outcome to them.