Purpose of the Five Key Steps in Segmenting and Targeting

question 190

Multiple Choice

purpose of the five key steps in segmenting and targeting markets that link customer needs to marketing actions is to

• A) identify competitors that provide similar products that satisfy a firm's customers' needs.
• B) provide guidance to reposition products.
• C) generate new products ideas for firms that are not growing in market share.
• D) link market needs of customers to the organization's marketing program.
• E) correspond directly to each of the five environmental forces.

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Definitions:

Creative Sales Strategies

Creative Sales Strategies entail innovative approaches and techniques in selling products or services to stand out in the competitive market.

Psychological Income

Non-monetary benefits or satisfactions derived from one's work or profession, such as recognition, achievement, and a sense of purpose.

Financial Reward

A monetary benefit given in recognition of achievement, performance, or service, often used as motivation.

Entertainment Allowance

A budget or fund allocated by organizations for hosting business clients or for employee leisure activities.