What Is the First Step in Segmenting a Market

question 30

Multiple Choice

What is the first step in segmenting a market?

• A) set the segmentation goals
• B) choose a basis or bases for segmenting the market
• C) select a market or product category for study
• D) profile and analyze segments
• E) select target markets

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Definitions:

P-value

A statistical measure that helps in determining the significance of results obtained in a hypothesis test, indicating the probability of observing the results if the null hypothesis were true.

Normal Distribution

A symmetric, bell-shaped frequency distribution curve where most occurrences take place around the central peak and probabilities for values taper off equally towards either end.

Maximum Oxygen Uptake

The maximum rate at which an individual can consume oxygen during intense or maximal exercise, indicative of aerobic capacity.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, indicating the spread from the mean.