In the BCG Matrix

question 7

Multiple Choice

In the BCG matrix:

• A)the vertical axis indicates market growth rate
• B)the vertical axis indicates the relative market share of the business
• C)the horizontal axis indicates market growth rate
• D)the horizontal axis indicates market attractiveness

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Definitions:

Segmenting

The method of segmenting a wide market of consumers or businesses into smaller groups based on common traits.

Segmentation

The process of dividing a market into smaller groups with similar needs or characteristics to target marketing efforts more effectively.

Market Loyalty

Market loyalty refers to the preference and consistent choice of customers for a specific brand, product, or service over competitors, often influenced by satisfaction, quality, and emotional connection.

Global Scale

Refers to the scope or extent of activities, operations, or phenomena that span across multiple countries and cultures, impacting or involving the global population.