When a Company Recognizes That the Needs of One Market

question 18

Multiple Choice

When a company recognizes that the needs of one market segment is not the same as another and accordingly customizes its product offerings, it is said to be pursuing a __________ strategy.

• A) stuck-in-the-middle
• B) standardization
• C) segmentation
• D) focus
• E) low-cost

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Definitions:

Algorithms

Rules that specify operations to find trends in data, and can learn from patterns, as well as make decisions and predict the future.

Data Management

The process of collecting, storing, preserving, and using data securely and efficiently to support business operations and decision-making.

Organizational Power

The capacity or ability of members within an organization to influence others, shape decisions, and command resources.

Fordist Ideology

The set of principles associated with mass production and consumption characteristic of Henry Ford's assembly line methods, emphasizing efficiency and standardization.