The First Step in the Seven-Step Approach for Segmenting Product-Markets

question 176

Multiple Choice

The first step in the seven-step approach for segmenting product-markets is to

• A) select the broad product-market.
• B) identify potential customers' needs.
• C) form homogeneous submarkets.
• D) identify the determining dimensions.
• E) estimate the size of each product-market segment.

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Definitions:

Sales Quota

A specific sales target set for a salesperson or team to achieve within a defined time frame.

Break-even Volume

The quantity of products or services a business needs to sell to cover its costs, without making a profit or loss.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor costs.