When Selecting a Target Market,firms Will Be Most Successful If

question 113

Multiple Choice

When selecting a target market,firms will be most successful if they

• A) decide between demographic and geographic segmentation methods.
• B) seek out opportunities to customize products.
• C) develop a strong communication plan.
• D) match the firm's competencies with a market segment's attractiveness.
• E) reposition the brand.

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Definitions:

Alpha

The pre-determined significance level in hypothesis testing, often set at 0.05, which defines the likelihood of observing a result at least as extreme as the one seen in the sample data if the null hypothesis is true.

T-statistic

A type of statistic used in hypothesis testing, calculated as the ratio of the departure of an estimated parameter from its hypothesized value to its standard error.

Critical Value

A threshold in hypothesis testing, which the test statistic must exceed to reject the null hypothesis.

Level of Significance

A threshold in hypothesis testing, below which the null hypothesis is rejected, commonly set at values like 0.05 or 0.01.