______________ Is the Process of Naming Broad Product-Markets and Then

question 93

Multiple Choice

______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

• A) Market positioning
• B) Market segmentation
• C) Mass marketing
• D) Diversification
• E) Strategic planning

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Definitions:

Cultural Identities

The feeling of belonging to a group that shares the same cultural background, practices, beliefs, or values.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a general disdain for other cultures.

Chronemics

The study of how time affects communication in different cultures, including perceptions of punctuality, time management, and the significance of time in interactions.

Ethnocentric Reactions

Responses or behaviors that are based on the belief that one's own ethnic group or culture is superior to others.