The Increasing Diversity of Our Population Is Creating a Marketing

question 98

True/False

The increasing diversity of our population is creating a marketing "threat" to small businesses because they cannot profitably serve small niches.

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Definitions:

Think Global

A business approach that considers the international implications of corporate decisions and strategies.

Consumer Wants

The desires or needs that drive individuals to purchase products or services.

Consumer Needs

The desires or necessities that consumers seek to fulfill with products or services.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, typically summarized as product, price, place, and promotion.