The Process of Naming Broad Product-Markets and Then Segmenting Them

question 151

Multiple Choice

The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable marketing mixes is called:

• A) Market penetration.
• B) Market segmentation.
• C) Market development.
• D) Market research.
• E) Market pioneering.

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Definitions:

Frequency Distribution

A tabular or graphical representation showing how often each different value in a set of data occurs.

Jobs

Refers to positions of paid employment or roles within organizations where individuals perform specific tasks in exchange for compensation.

Sample

A sample is a subset of individuals, items, or data taken from a larger population for the purpose of analysis.

Nominal Or Interval

Categories of measurement scales in statistics where nominal involves labeling without a natural order and interval implies ordered categories with meaningful intervals between values.