Market Segmentation Refers to

question 121

Multiple Choice

Market segmentation refers to

• A) identifying small groups of customers with dissimilar needs.
• B) aggregating prospective buyers into groups and selecting only those whose needs cannot be met by competitors' products.
• C) aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.
• D) aggregating different products into more reasonable product groupings to better serve consumers' needs.
• E) those characteristics of a product that make it superior to competitive substitutes.

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Definitions:

Intelligent Human Being

An individual characterized by the ability to learn, understand complex ideas, engage in various forms of reasoning, and adapt to new situations.

Frederick Taylor

An American mechanical engineer who sought to improve industrial efficiency and is considered the father of scientific management.

Systematic Soldiering

The deliberate and coordinated effort of workers to restrict output by limiting the speed at which they perform work. Workers engage in systematic soldiering to prevent piece rates being cut.

Taylor's Scientific Management

A theory of management that analyzes and synthesizes workflows to improve economic efficiency, especially labor productivity.