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

question 134

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 useful to consider what people in each submarket do NOT want as well as what they do want.
• D) submarkets are nicknamed based on their qualifying needs.
• E) retirement centers in the Sunbelt is a broad product-market with many submarkets.

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Definitions:

Business Support Products

Goods and services that help businesses operate more efficiently and effectively, ranging from software tools to consulting services and office supplies.

Product Line

A series of related products offered by a company.

Product Mix

The total assortment of products that a company offers for sale, which can vary by depth, breadth, and consistency.

Product Line

A group of related products marketed by a company under a single brand.