Miranda Has a Great Idea for a New Shoe Store

question 130

Multiple Choice

Miranda has a great idea for a new shoe store. When she first conceived of the idea, she believed her target market would be the entire shoe market. However, as she learned more about marketing, she realized that different types of consumers were looking for different types of footwear. She also learned that some segments of the population would be much more profitable than others. Miranda has used a number of variables to divide the market into different groups, including those that use shoes as a status symbol, those that use shoes for sports, and those who wear shoes simply because they are comfortable. At what stage of the target market selection process is Miranda currently?

• A)Step 1: Identify the appropriate targeting strategy
• B)Step 2: Determine which segmentation variables to use
• C)Step 3: Develop market segment profiles
• D)Step 4: Evaluate relevant market segments
• E)Step 5: Select specific target markets

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Definitions:

Compound

A chemical entity consisting of a combination of elements in a specific ratio, forming a substance with unique properties.

Acceptable Name

A name that meets the standard nomenclature rules set by IUPAC or other governing bodies, suitable for use in scientific contexts.

Acceptable Name

A term used to indicate a name for a chemical compound that is approved by a recognized authority, such as the International Union of Pure and Applied Chemistry (IUPAC).

Starting Materials

The reactants used at the beginning of a synthetic chemical reaction.