A Joint Venture Is a Partnership in Which Two or More

question 49

True/False

A joint venture is a partnership in which two or more companies join to undertake a major project. All parties commit financing and risk to the project.

Recognize the importance of linking customer needs to marketing actions in the process of segmenting and targeting markets.

Identify the reasons and benefits of market segmentation for businesses.

Distinguish between various bases of market segmentation including demographic, geographic, psychographic, and behavioral.

Describe the steps involved in segmenting and targeting markets and their importance in developing a marketing strategy.

---

Definitions:

Fixed Cost

A cost that does not change with an increase or decrease in the amount of goods or services produced.

Lawn-mowing

The process of cutting the grass in a lawn to maintain its appearance and health.

Variable Costs

Costs that vary directly with the level of production output, such as materials and labor.

Lawn-mowing

The action of cutting the grass in a yard or garden to maintain its appearance and health.