Starbucks Is Known for Understanding Its Customers

question 71

Multiple Choice

Starbucks is known for understanding its customers. As such, it has developed multiple varieties of products that match the needs and wants of its different market segments. By offering everything from espresso drinks to teas to pastries, Starbucks is engaging in a(n) ________ strategy.

• A)value-based promotions
• B)market segmentation
• C)positioning
• D)operational excellence
• E)target marketing

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Definitions:

Monopolizes

Occurs when a single company or entity controls a significant portion or all of the supply of a particular good or service, limiting competition.

High-Pressure Sales

A sales technique that uses intense persuasion and urgency to convince customers to make a purchase decision quickly, often ignoring their hesitations.

Conversation Control

The ability to direct and manage the flow of dialogue in a conversation, ensuring that goals are met effectively.

Selling Technique

A method or strategy used by salespeople to persuade potential buyers to purchase a product or service.