The First Step in Segmenting a Market Is to Choose

question 33

True/False

The first step in segmenting a market is to choose a basis or bases for segmenting the markets.

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Definitions:

Make-Or-Buy Decision

A strategic decision-making process used by companies to determine whether it is more cost-effective to produce goods internally or buy them from an external supplier.

Cost Savings

Reductions in expenses achieved through efficiency improvements, budget adjustments, or other financial strategies.

Production Opportunities

Situations or contexts in which a company has the potential to increase its output, efficiency, or product offerings.