A Marketing Plan Should Never Identify Small Segments as Targets

question 12

True/False

A marketing plan should never identify small segments as targets because it is impossible for them to be profitable enough.

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Definitions:

Population Standard Deviation

A measure of the dispersion or spread of a population's values around its mean, quantifying variability.

P-value Method

A statistical approach used to determine the significance of results in hypothesis testing, indicating the probability of observing data as extreme as the sample data.

Null Hypothesis

It is a hypothesis that assumes no significant difference or effect; it is the statement tested in statistical hypothesis testing to determine the likelihood of the observed data.

Statistically Significant

A determination that the observed difference or relationship in a statistic is not likely due to chance alone, according to a pre-specified threshold of significance.