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:

Test Statistic

A value calculated from sample data used to make a decision about a hypothesis.

MPG

Miles per gallon, a measure of fuel efficiency in vehicles.

Matched Samples

A study design where subjects are paired based on certain characteristics to ensure comparability between treatment groups.

Independent Samples

Two or more sets of data that are collected independently of each other, not affecting one another.