A Market Segment Consists of a Group of Consumers Who

question 26

True/False

A market segment consists of a group of consumers who share a similar set of needs and wants.

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Definitions:

Nondurable Goods

Items that have a short lifespan and are consumed or used up quickly after purchase, such as food and paper products.

NAICS Guidelines

The North American Industry Classification System guidelines classify business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. economy.

ISO 9000

An international framework of criteria aimed at quality management and assurance to assist businesses in fulfilling the requirements of customers and other stakeholders.

Marketing Actions

Strategic activities undertaken by a company to promote and sell its products or services.