Which of the Following Exemplifies the Definition of Technology in the Text

question 113

Multiple Choice

Which of the following exemplifies the definition of technology in the text?

• A) Converting iron ore into steel
• B) Creating a work of art from paint and canvas
• C) Creating a website for a business start up
• D) Transforming lumber into fine furniture
• E) All of these choices

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Definitions:

Market Segmentation

The method of segregating a potential customer base into categories or segments according to various traits.

Cannibalization

The detrimental impact on sales of a product due to the introduction of a similar product by the same company.

Tiffany/Walmart Strategy

A business approach that contrasts high-end, premium products and services (Tiffany) with low-cost, high-volume goods (Walmart), targeting different market segments.

High-End Segments

Market segments composed of consumers who purchase luxury or premium products and services.