The Division of the Total Potential Markets into Smaller, Homogeneous

question 16

Multiple Choice

The division of the total potential markets into smaller, homogeneous segments is:

• A) segmentation.
• B) lifestyle analysis.
• C) positioning.
• D) market diversification.

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Definitions:

Strategic Marketing Process

The approach taken by an organization to align marketing strategies with its overall goals, involving planning, execution, and evaluation.

Deviations

Variations or departures from the standard or norm, which can indicate abnormalities, errors, or unique cases in data and behaviors.

Evaluation Phase

Part of the consumer decision-making process where options are assessed before making a purchase decision.

Marketing Dashboard

A visual representation of important marketing metrics and KPIs that helps managers make informed decisions.