Selecting Which Segments of a Population of Customers to Serve

question 8

Multiple Choice

Selecting which segments of a population of customers to serve is called ________.

• A)market segmentation
• B)positioning
• C)customization
• D)target marketing
• E)choosing a value proposition

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Definitions:

Information Gaps

Situations where a disparity or lack of necessary information exists, making it difficult to make informed decisions or understandings.

Opportunity-driven

Pursuing actions based on perceived potential for growth or benefit.

Timmons Model

A model of entrepreneurship that emphasizes the dynamic balance between opportunity, resources, and team, as the three critical factors in successful venture creation.

Bootstrapping

A method of starting a company using personal finance or operating revenues with minimal outside investment, emphasizing cost-efficiency and lean operations.