When Selecting a Target Market, Firms Will Be Most Successful

question 71

Multiple Choice

When selecting a target market, firms will be most successful if they

• A)decide between demographic and geographic segmentation methods.
• B)seek out opportunities to customize products.
• C)develop a global communication plan.
• D)match the firm's competencies with a market segment's attractiveness.
• E)reposition the brand.

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Definitions:

Material Price Variance

The difference between the actual cost of materials and the standard cost, multiplied by the quantity of materials used.

Standard Unit Price

A predetermined or established cost that represents an expected or typical amount to be charged or incurred per unit of product or service.

Actual Unit Price

The real cost of a single unit of a product or service, as incurred or experienced in a transaction.

Standard Quantity

The estimated amount of materials or resources expected to be used during a production process under normal conditions.