Amanda's Team Is Analyzing Target Markets for the Company's New

question 38

Multiple Choice

Amanda's team is analyzing target markets for the company's new product idea. Her group is currently considering the different factors it should adopt to divide the market. A major part of this decision involves the customers' needs for, uses of, or behavior toward the product. At which stage of the target market selection process are Amanda and her team 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:

Cross-sectional

Pertains to research that involves analyzing data from a population, or a representative subset, at a specific point in time.

Longitudinal

A research design or study that follows subjects over a period of time, allowing for the observation of long-term effects or changes.

Participants

Individuals who take part in a research study or experiment.

Impulsive

Characterized by actions taken without forethought or consideration of the consequences; spontaneous behavior.