Firms Which Use a Total-Market Approach Are Most Likely To

question 57

Multiple Choice

Firms which use a total-market approach are most likely to:

• A)target specific groups of customers.
• B)manufacture custom-made products.
• C)assume that all buyers have similar needs and wants.
• D)sell premium products.
• E)refrain from appealing to everyone in the market.

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Definitions:

Customer Measures

These are metrics used by companies to assess satisfaction, loyalty, and experience from the customer's perspective.

Learning And Growth

A perspective within the Balanced Scorecard approach focusing on employee training and development, for the purpose of improving internal processes and innovation.

Profit Center

A division or segment of a company that is responsible for generating its own revenue and profit, with its financial performance being identifiable separately from other business activities.

Generating Revenue

The process of earning income from business activities, sales, or other financial operations.