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:

Federal Unemployment Taxes

Taxes imposed on employers based on employee wages to fund unemployment compensation to workers who have lost their jobs.

Calendar-Year Basis

A method of accounting that uses the 12-month period from January 1 to December 31 as its fiscal year for financial reporting.

Fiscal Year

A 12-month period used for accounting and reporting purposes, which may or may not align with the calendar year.

Payroll Taxes

Taxes that are withheld from employees’ salaries or wages by the employer and paid directly to the government. These can include income tax, social security, and Medicare taxes.