The Business Market Can Be Segmented on Several Bases, Broadly

question 86

Multiple Choice

The business market can be segmented on several bases, broadly classified into two major categories:

• A)economic and demographic.
• B)macro and micro.
• C)top-down and bottom-up.
• D)concentration and coverage.
• E)organizational and end-use application.

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Definitions:

Product Life Cycle

The advancement of a product through various phases that include its introduction, growth, maturation, and eventual decline.

Growth

An increase in some quantity over time, such as revenue, size, or population.

Product Life Cycle

The phases a product experiences, starting from its launch, progressing through growth and maturity, before reaching its decline in the marketplace.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products. It typically includes product, price, place, and promotion.