Market Segmentation Refers to

question 121

Multiple Choice

Market segmentation refers to

• A) identifying small groups of customers with dissimilar needs.
• B) aggregating prospective buyers into groups and selecting only those whose needs cannot be met by competitors' products.
• C) aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.
• D) aggregating different products into more reasonable product groupings to better serve consumers' needs.
• E) those characteristics of a product that make it superior to competitive substitutes.

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Definitions:

Capitalism

An economic system where trade, industries, and the means of production are largely or entirely privately owned and operated for profit.

Demographic Trends

Patterns in the composition of a population over time, including changes in fertility, mortality, and migration rates.

Status Of Women

Describes the social, political, and economic position and rights of women in society.

Industrialization

Describes the process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods, accompanied by technological innovation and a shift in workforce dynamics.