There Are Five Steps Involved in Segmenting and Targeting Markets

question 198

Multiple Choice

There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?

• A) create product groupings
• B) develop a market-product grid and estimate size of markets
• C) identify market needs
• D) take marketing actions to reach target markets
• E) form prospective buyers into market segments

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Definitions:

Upton Sinclair

An American writer who wrote nearly 100 books and other works across several genres; he is best known for his 1906 novel "The Jungle," which exposed conditions in the U.S. meatpacking industry, causing a public uproar that contributed in part to the passage of the Pure Food and Drug Act and the Meat Inspection Act.

Dr. Francis Townsend

Dr. Francis Townsend was an American physician who was best known for his advocacy of the Townsend Plan, a proposal that led to the creation of the Social Security system in the United States, aimed at supporting the elderly through pensions.

Supreme Court

The highest federal court in the United States, with ultimate appellate jurisdiction over all federal and state court cases involving issues of federal law.