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:

Michael Omi

A sociologist best known for co-developing the theory of racial formation in the United States, which examines how social, economic, and political forces determine the content and importance of racial categories.

Howard Winant

An American sociologist known for his work on race and racism, particularly in the context of global and American society.

Race

A category of humankind that shares certain distinctive physical traits.

Class

A system of ordering society whereby people are divided into sets based on perceived social or economic status.