Recognizing Different Sets or Groups of Customers Based on Their

question 19

Multiple Choice

Recognizing different sets or groups of customers based on their needs is called

• A) market segmentation.
• B) cross-functional alignment.
• C) customer satisfaction measurement.
• D) channel strategy.
• E) sales execution.

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Definitions:

Retailer-Sponsored Cooperatives

A group of retail merchants that band together to purchase goods in bulk to save money and share marketing expenses, often to better compete with larger chains.

Wholesaler-Sponsored Voluntary Chains

A retailing strategy where independent retailers band together under a wholesaler's brand and distribution system to compete with larger chains.

Franchises

Business model that allows individuals or entities (franchisees) to operate a business under the established brand and operational system of the franchisor in exchange for a fee and ongoing royalties.

Self-Service

refers to a system or process that allows customers to perform services for themselves without direct assistance from staff, commonly seen in retail, banking, and online platforms.