A Marketing Strategy Consists of Selecting a Segment of the Market

question 83

True/False

A marketing strategy consists of selecting a segment of the market as the company's target market and designing the proper"mix"of product/service,price,promotion,and distribution system to meet the wants and needs of the consumers within the target market.

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Definitions:

Demographic

Statistical data relating to the population and particular groups within it, used for marketing, planning, and social research to understand and target audiences.

Prospective Customers

Individuals or organizations considered potential buyers of a product or service, who have shown interest but have not yet made a purchase.

Physical Gender

The biological and anatomical characteristics that define individuals as male or female.

Demographic Variables

Characteristics of human populations used in market segmentation, such as age, gender, income, education, and occupation.