A Food Processing Company Considering Snack-Food Opportunities Identified Three Possible

question 83

Multiple Choice

A food processing company considering snack-food opportunities identified three possible market segments and gave them "nicknames": the dieters,the health faddists,and the nutrition-conscious parents.It developed a marketing mix around a line of good-tasting,nutritious children's snacks.The firm is apparently

• A)relying on cluster analysis techniques.
• B)using a multiple target market approach.
• C)using a single target market approach.
• D)using a combined target market approach.
• E)ignoring the criteria that good market segments should be operational.

Identify various behavioral biases and their effects on economic decision making.

Understand the significance of impulse buying and its impact on economic models.

Comprehend the concept of System 1 and System 2 in the brain and their roles in decision making.

Acknowledge the influence of context on preferences and decisions in behavioral economics.