Which of the Following Is NOT a Step in Market

question 3

Multiple Choice

Which of the following is NOT a step in market segmentation?

• A) set budget
• B) identify product-related need sets
• C) group customers with similar need sets
• D) describe each group
• E) select an attractive segment(s) to serve

---

Definitions:

Functional Currency

The currency of the primary economic environment in which an entity operates, typically used in preparing financial statements.

Translation Rate

The rate used to convert financial statements of a foreign operation into the presentation currency of the reporting entity.

Foreign Currency

Currency that is used in a country other than the one where a company or individual is based.

Foreign Exchange

The conversion of one country's currency into another currency.