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:

Useful Life

The estimated period over which an asset is expected to be used before it is considered to be no longer useful for business operations.

Accumulated Depreciation

The cumulative depreciation of an asset up to a single point in its life, reflecting how much of the asset's value has been used up.

Deferred Revenues

Income received by a company for goods to be delivered or services to be provided in the future, recorded as a liability until earned.

Liability

A financial obligation or debt owed by a business or individual to another entity, to be paid in the future.