What Is the Purpose of Market Segmentation

question 111

Multiple Choice

What is the purpose of market segmentation?

• A) to group a large number of markets together enabling a company to serve them simultaneously
• B) to enable the marketer to tailor marketing mixes to meet the needs of one or more specific groups
• C) to reduce the market down to a specific size that the firm can handle
• D) to divide the market into equal size and profit regions for sales territories

Recognize the importance of the global youth market and the preferred communication methods within this demographic.

Understand key differences and similarities between French- and English-speaking Canadians regarding values.

Identify the major ethnic groups in Canada and their characteristics.

Distinguish between low-context and high-context cultures.

---

Definitions:

Effective Annual Rate

The interest rate on a loan or financial product restated from a nominal rate to an annual rate, taking compounding into account.

Compounded Daily

The process where interest is calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan, on a daily basis.

Compounded Semi-Annually

Interest calculated twice a year on the initial principal and the interest that has been previously accumulated.

Annual Percentage Rate

Annual Percentage Rate (APR) is the annualized interest rate charged to borrowers or earned by investors, including any fees or additional costs associated with the transaction.