There Are Five Key Steps in Segmenting and Targeting Markets

question 16

Essay

There are five key steps in segmenting and targeting markets, which link market needs of customers to the organization's marketing program. List these five key steps.

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Definitions:

Customer Service Department

A division within a business that handles customer inquiries, concerns, and facilitates service requests to enhance customer satisfaction.

Time-Driven Activity-Based Costing

A costing method that assigns costs to products or services based on the time resources are used.

Customer Support Department

A sector within a company responsible for handling inquiries, complaints, and support requests from customers.

Customer Cost Analysis

The process of analyzing all costs associated with acquiring and serving customers to determine their profitability.