The Percentage of a Market Which Actually Buys a Specific

question 95

Multiple Choice

The percentage of a market which actually buys a specific product from a specific company is referred to as that product's

• A) strategic segment
• B) target market
• C) market share
• D) market cut
• E) market position

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Definitions:

Quality Costs

The total costs associated with ensuring products or services meet quality standards, including prevention, appraisal, and failure costs (both internal and external).

Quality Costs

The total costs associated with preventing defects, appraising the quality of products, and the costs related to failures, both internal and external.

Productive Inefficiency Cost

Costs incurred due to not utilizing resources in the most efficient way, leading to higher production costs or wasted resources.

External Failure Cost

Costs associated with defects found after the product is delivered to the customer, including returns and warranties.