The First Step in Market Segmentation Should Be

question 242

Multiple Choice

The first step in market segmentation should be:

• A) deciding what new product you could develop.
• B) evaluating what segment(s) you currently serve.
• C) finding a demographic group likely to use your products.
• D) listing features of your current products.
• E) defining some broad product-markets where you may be able to operate profitably.

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Definitions:

Accounts Receivable-Stanton

Likely refers to the amounts due to a business (possibly named Stanton) from its customers for goods or services delivered on credit.

Delivery Expense

Costs incurred by a company to transport its goods to customers, including shipping fees, packaging, and logistics services.

FOB Shipping Point

is a shipping term indicating that the buyer assumes responsibility for the goods and the shipping costs at the point of departure from the seller's location.

Merchandise Purchases

Transactions involving the buying of goods for resale purposes, typically part of the inventory acquisition process in retail or wholesale businesses.