A ________ Is a Group of Consumers with Similar Needs

question 43

Multiple Choice

A ________ is a group of consumers with similar needs and a group of retailers that satisfy those needs using a similar retail channels and format.

• A) retail market segment
• B) virtual market segment
• C) wholesale market segment
• D) target market segment
• E) global market segment

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Definitions:

Forecast Of Demand

An estimation of the quantity of a product or service that consumers will purchase in the foreseeable future.

Supplier Hubs

Centralized locations where multiple suppliers are situated to facilitate easy distribution of goods to buyers, often to streamline the supply chain operations.

Offshoring

The relocation of a business process or operation from one country to another, typically to exploit lower labor costs or favorable regulatory environments.

Shipping Costs

Expenses associated with transporting goods from one location to another.