Rather Than Assume That Each Client Has the Same Needs

question 60

Multiple Choice

Rather than assume that each client has the same needs, a travel agency that understands marketing creates separate departments; one dedicated to retirees, another to the business traveler, a third department concentrates on student travel and the fourth department focusing on families. This is an example of a firm that has considered _.

• A) market Segmentation
• B) value engineering
• C) cost leadership
• D) positioning
• E) mass customization

---

Definitions:

Modernization

The process of adopting the latest technology, organizational practices, or cultural norms, often associated with progress and improvement in society.

Modernization Theory

is a theoretical perspective that links societal development with the adoption of modern technological, political, and economic systems, traditionally viewing such modernization as a positive and linear progression.

Malthusian Theory

Proposes that population growth is potentially exponential while the growth of the food supply is linear, leading to overpopulation and societal issues.

Demographic Transition Theory

A theory that describes the transition from high birth and death rates to lower birth and death rates as a country develops from a pre-industrial to an industrialized economic system.