Determining the Size of Specific Markets Within a Market-Product Grid

question 147

Multiple Choice

Determining the size of specific markets within a market-product grid is helpful in determining which target market segments to select and

• A) how to implement the 80-20 rule.
• B) which products to group into meaningful categories.
• C) how to implement a harvesting strategy.
• D) which product groupings to offer.
• E) which products to reposition.

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Definitions:

Customer Satisfaction

The measure of how products or services supplied by a company meet or surpass customer expectation.

Discrete Metric

A measurement used for data that can only take certain, distinct values within a mathematical or statistical model.

5-point Rating Scale

A 5-point rating scale is a survey tool that asks respondents to rate a question or statement on a five-point scale, typically ranging from strongly disagree to strongly agree.

Person's Height

A measurement of how tall an individual is, often recorded in centimeters or feet and inches in medical, nutritional, and various scientific studies.