Aggregating Prospective Buyers into Groups That Have Common Needs and Will

question 312

Multiple Choice

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

• A) market aggregation.
• B) market segmentation.
• C) product sorting.
• D) product grouping.
• E) mass marketing.

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Definitions:

Market Price

The current price at which an asset or service can be bought or sold in a marketplace, determined by supply and demand dynamics.

Subjective Feel

An individual's personal and emotional response or perception towards something.

Profit-oriented Pricing

A pricing strategy aimed at maximizing profit by considering factors such as production costs, consumer demand, and competitive prices.