The Requirement for a Market Segment to Be Responsive Means

question 64

Multiple Choice

The requirement for a market segment to be responsive means:

• A) over half of the consumers in the identified segment will be actively interested in the product
• B) all the segments identified by a marketer should respond to the marketing mix
• C) all the segments identified by a marketer should not respond to the marketing mix
• D) the segments identified by a marketer should not differ in the level of their responsiveness to the marketing mix
• E) the segment identified by a marketer should differ in how it responds to the marketing mix when compared to another segment confronted with the same mix

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Definitions:

Economic Costs

The total cost of choosing one action over another, including both explicit costs (direct payment) and implicit costs (opportunity costs).

Normal Rate

Typically refers to a baseline or standard rate of interest, production, or growth that is considered usual or expected under normal circumstances.

Minimum Efficient Scale

The smallest level of production at which a firm can achieve the lowest long-run average total cost.

Economic Costs

The total cost of choosing one action over another, comprising both the costs directly incurred and the opportunity costs forgone by not taking the alternative action.