LaGrange Florists Segments Markets into Groups of Nonusers,ex- Users,potential Users,first-

question 5

True/False

LaGrange Florists segments markets into groups of nonusers,ex- users,potential users,first- time users,and regular users of its flowers and services.This firm uses usage rate as its segmentation approach.

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Definitions:

Mission

A statement of the organization’s function in society that often identifies its customers, markets, products, and technologies. Often used interchangeably with vision.

Core Values

Fundamental beliefs and guiding principles that dictate behavior and action within an organization.

Customer Value Proposition

The cluster of benefits that an organization promises customers to satisfy their needs.

Economic Losses

Financial losses incurred by individuals, businesses, or the economy due to factors such as accidents, natural disasters, or market downturns.