In the Process of Market Segmentation, What Is the Next

question 177

Multiple Choice

In the process of market segmentation, what is the next step once market potential has been estimated?

• A) forecast probable market share
• B) determine potential sales
• C) develop a marketing mix
• D) seek strategies to meet the outcomes

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Definitions:

Revealed Preference

A theory that assumes individuals' preferences can be determined by their purchasing habits.

Weak Axiom

A principle in consumer choice theory stating that if a consumer prefers bundle A over bundle B when both are available at the same prices, then the consumer will not purchase more of bundle B if its price rises.

Revealed Preference

An economic theory stating that the preferences of consumers can be understood by their purchasing habits.

Prices

The monetary value assigned to goods and services in a market, dictating the exchange rate at which these can be traded.