The Process of Market Segmentation Involves

question 122

Multiple Choice

The process of market segmentation involves:

• A) identifying small target markets and expanding them into broad product markets.
• B) identifying broad product markets and segmenting then into narrower target markets.
• C) identifying target groups with the fewest potential customers.
• D) selecting a marketing mix to reach everyone.
• E) identifying target markets based on consumers' gender alone.

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Definitions:

Entrepreneurial Employees

Employees who exhibit entrepreneurial characteristics within an organization, including innovation, risk-taking, and proactiveness, contributing to the company's growth.

Flexible

The ability to easily adapt to new, different, or changing requirements and situations.

Agency Problem

arises in situations where there is a conflict of interest between the principals (owners) and agents (managers) of an organization, leading to potential difficulties in aligning their goals.

Conflict of Interest

A situation where a person's personal interest could potentially interfere with their professional duties or responsibilities, leading to compromised decision-making.