The Process of Naming Broad Product-Markets and Then Segmenting Them

question 151

Multiple Choice

The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable marketing mixes is called:

• A) Market penetration.
• B) Market segmentation.
• C) Market development.
• D) Market research.
• E) Market pioneering.

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Definitions:

Inventory

Raw materials, work-in-process products, and finished goods that are considered to be the part of a business's assets that are ready or will be ready for sale.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor.

Income Tax Expense

The amount of income tax a company owes to federal, state, or local authorities, recognized as an expense in the period it is incurred.

Income Tax Payable

The amount of income tax a company owes to the government but has not yet paid.