First Step in Segmenting and Targeting Markets That Link Customer

question 88

Multiple Choice

first step in segmenting and targeting markets that link customer needs to marketing actions is to

• A) group potential buyers into segments.
• B) group products to be sold into categories.
• C) develop a market-product grid and estimate size of the overall market.
• D) select target markets.
• E) take marketing actions to reach target markets.

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Definitions:

Profit Margin

The percentage of revenue remaining after all expenses have been deducted from sales, indicating the financial health and efficiency of a business.

Efficient Supply Chains

Supply chains that are effectively managed to ensure the right products are delivered at the right time to the right place with minimal waste and cost.

Low Inventory Levels

A situation where a business holds a minimal amount of products in stock to reduce holding costs and increase efficiency.

Geographically Dispersed

A term describing entities such as teams, offices, or populations that are spread across different geographical locations.