You Are an Analyst in the Marketing Department for a Major

question 46

Multiple Choice

You are an analyst in the marketing department for a major grocery store chain, and you recently submitted a report to your boss regarding potential market segments the company should consider targeting. Your boss just sent the report back to you with the following questions:
What are the strengths and weaknesses of the competitors who are also targeting these markets?
Does any firm dominate the market currently?
Can we create a compelling marketing mix to effectively compete for business in this market segment?
Based on the questions being asked, it appears your boss is using which one of the following segment evaluation approaches?

• A) Company sales potential approach
• B) SWOT analysis approach
• C) Breakdown approach
• D) Competitive assessment approach
• E) Buildup approach

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Definitions:

Nominal Variable

A type of variable with data that can be categorized but not ranked or ordered numerically.

Regression Analysis

A set of statistical processes for estimating the relationships among variables, often to predict a dependent variable from one or more independent variables.

Indicator Variable

A variable used in statistical analyses that adopts a value of 1 if a certain condition is true and 0 if false, often used to represent the presence or absence of a characteristic.

Dummy Variable

A variable used in regression analysis to represent subgroups of the sample in your study.