In Which of the Following Stages of the Market Segmentation

question 4

Multiple Choice

In which of the following stages of the market segmentation process would a firm need to decide whether to use a post hoc or an a priori approach to segmenting a market?

• A) Determining customer needs and wants
• B) Delineating the firm's current situation
• C) Dividing markets on relevant dimensions
• D) Deciding a segmentation strategy

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Definitions:

EMV

Expected Monetary Value, a risk management tool used to calculate the average outcome when the future includes scenarios that may or may not happen.

States of Nature

Hypothetical conditions or scenarios in decision theory and economics, representing all possible situations that could affect the outcome of a decision.

EMV

An acronym for Expected Monetary Value, a calculation used in decision making that quantifies the average outcome of a future event in monetary terms.

Payoff Table

A tool used in decision making that shows the outcome or results of different strategies under various conditions.