Market Segments Are Groups Of

question 79

Multiple Choice

Market segments are groups of:

• A) customers within a market that can be different from each other on the basis of their distinct attributes and specific demands.
• B) companies within a market that produce similar goods or services which are close substitutes of each other.
• C) companies that follow a similar business model and cater to the needs of similar customers.
• D) closely related industries.
• E) large companies that are in a position to determine industry price.

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Definitions:

Social Entrepreneurship

An approach to business that focuses on creating solutions for social problems and making a positive impact on society.

Innovation

The process of creating, developing, and implementing new ideas, products, or methods to improve existing ones or introduce novel solutions.

Organizational Change

The process through which a company or organization changes its structure, strategies, operational methods, or cultural values.

Social Transformation

Significant changes in the structure and functioning of society, often aimed at improvement or progress in social, economic, or political areas.