The Process of Dividing a Larger Market into Smaller Groups

question 106

True/False

The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is called positioning.

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Definitions:

Porter's Generic

Strategies outlined by Michael Porter that describe how a company can achieve competitive advantage through cost leadership, differentiation, or focus, to perform better in their market.

Personnel Synergy

The enhanced combined effect or output achieved when individuals or teams work cohesively and effectively together.

Management Team

A group of individuals who oversee and coordinate the operations and strategic direction of an organization or a specific department.

Synergy

The concept that the combined effect of a team or group is greater than the sum of individual efforts.