Hildy Webb and LaTishe Brown Own Creative Catering and Would

question 2

Multiple Choice

Hildy Webb and LaTishe Brown own Creative Catering and would like to improve customer satisfaction and increase repeat business.When you ask them to describe a typical customer,they say it is impossible and explain that with corporate functions,family affairs,and fundraisers,they do not have a typical customer.Why do you suggest it is time for market segmentation?

• A) This will position the company in the minds of their consumers as compared to their competitors.
• B) Creative Catering needs to learn how to group these markets together into one market to serve all of them adequately.
• C) It will help develop a generalized definition of the market as a whole and reveal the optimal marketing mix for this market.
• D) It will enable them to build an accurate description of customer needs by group and to design a marketing mix to fit each segment.

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Definitions:

Market Value

The ongoing rate at which services or assets are being traded in the market.

Organization Costs

Costs incurred in the formation of a corporation.

Retained Earnings

Retained Earnings refer to the portion of net income left after dividends are paid out to shareholders, which is then reinvested in the company or used to pay down debt.

Intangible Asset

Assets that lack physical substance but are valuable because of the advantages or rights they provide to a business.