The Process of Global Market Segmentation Begins with the Choice

question 62

True/False

The process of global market segmentation begins with the choice of one or more variables to use as a basis for grouping customers.

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Definitions:

JIT Concept

Just-In-Time (JIT) is a management strategy aimed at aligning raw-material orders from suppliers directly with production schedules to reduce inventory costs.

Employee Empowerment

A workplace approach aimed at giving employees more autonomy and control over their work processes and decision-making.

Unionization

The process by which workers form or join a union in order to collectively negotiate with their employers over wages, benefits, working conditions, and other employment terms.

Minimum Inventory

The lowest quantity of stock that must be kept on hand to prevent stockouts, taking into account lead times and demand variability.