To Be Identified as a Market Segment, Members of the Group

question 52

Multiple Choice

To be identified as a market segment, members of the group must

• A) be similar in terms of their consumption behavior.
• B) represent a large share of the entire market and have buying power.
• C) have diverse needs and have potential for future growth.
• D) have diverse needs and be willing and able to purchase the product.
• E) have the potential for future growth and increased profit or ROI.

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Definitions:

Competency

A measurable pattern of knowledge, skills, abilities, and behaviors that is required for effective performance in a specific job or activity.

Organizational Guidelines

The set of rules or principles designed to guide decisions and actions within an organization.

Re-Engineering

The process of redesigning processes, systems, or organization to achieve drastic improvements in critical measures of performance.

Effective Feedback

Constructive and specific information or criticism that is intended to help improve performance or behavior.