Step 2 in the 7-Step Approach to Market Segmentation Asks

question 258

True/False

Step 2 in the 7-step approach to market segmentation asks you to identify all the potential customers' needs for the broad product-market you named in Step 1.

---

Definitions:

Flexible Budget

A budget that adjusts or flexes with changes in the volume or activity of a business.

Variable Overhead Costs

Costs that fluctuate with production volume, such as utilities for manufacturing facilities or materials used in production.

Direct Labor Hours

The aggregate number of hours put in by personnel directly participating in the creation of goods or delivery of services.

Fixed Overhead Costs

Fixed costs that stay the same no matter how much is produced or sold, including items like rent, salaries, and insurance policies.