In the Seven-Step Approach to Market Segmentation, It Is Best

question 22

True/False

In the seven-step approach to market segmentation, it is best to identify the relevant needs of all potential customers BEFORE trying to form homogeneous submarkets.

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Definitions:

Trade

The exchange of goods and services between parties.

Imports

Goods or services brought into one country from another for the purpose of sale.

Exports

Goods or services produced in one country and sold to buyers in another, contributing to a nation's economy by generating income and employment.

Equilibrium Price

Equilibrium Price is the market price at which the quantity of goods supplied equals the quantity of goods demanded.