The 7-Step Approach to Market Segmentation Used in the Text

question 111

Multiple Choice

The 7-step approach to market segmentation used in the text shows that:

• A) determining needs rarely change.
• B) profit is the overall consideration beginning with Step 1.
• C) it's useless to consider what people in each submarket do not want when so much is known about what they do want.
• D) submarkets are nicknamed based on their qualifying needs.
• E) None of the above is true.

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Definitions:

Psychological Needs

Fundamental emotional or cognitive requirements essential for mental health and well-being, such as autonomy, competence, and relatedness.

Organismic Valuing Process

A concept in humanistic psychology where individuals inherently make evaluations or value judgments based on their experiences, acting in ways congruent with their true self.

Actualization

The realization or fulfillment of one's talents and potentialities, often considered as a drive or need present in everyone.

Underprivileged Children

Children who lack the economic, social, and educational advantages of their peers, often leading to disparities in health, achievement, and opportunities.