The First Step in Market Segmentation Should Be

question 242

Multiple Choice

The first step in market segmentation should be:

• A) deciding what new product you could develop.
• B) evaluating what segment(s) you currently serve.
• C) finding a demographic group likely to use your products.
• D) listing features of your current products.
• E) defining some broad product-markets where you may be able to operate profitably.

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Definitions:

Leadership

The act of guiding or influencing a group towards achieving a common goal through vision, action, and motivation.

Shared Influence

A situation where decision-making power and influence are distributed among members of a group or organization rather than centralized in a single leader.

Specialized Role

A position that requires a specific set of skills or expertise unique to a particular job or context.

Deliberate Influence

The intentional exertion of power or effect on others to bring about desired outcomes.