You Are in the Process of Starting Your Own Business

question 3

Multiple Choice

You are in the process of starting your own business, a specialty cupcake store. From your study of marketing, you realize that many of your business decisions, such as where to open the store and how to advertise it, will depend on the segment of the population you want to attract as customers for your product. You start looking at data about the types of stores in different parts of the town and the demographics of the individuals in different neighborhoods. What are you doing in this process?

• A) Engaging in category management
• B) Creating a promotional strategy
• C) Selecting a target market
• D) Analyzing the wheel of retailing
• E) Marketing to the environment

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Definitions:

Aggregate Demand

The total demand for all goods and services within an economy at a given overall price level and in a given time period.

Pollution Tax

A tax imposed by governments on emissions generated by businesses and industries, aimed at reducing environmental damage.

Marginal Benefit

The additional benefit received from consuming one more unit of a good or service.

Pollution Tax

A tax levied on activities that produce pollution in order to incentivize the reduction of environmental externalities.