Market Segmentation Stresses __________ and Relating Them to Specific Marketing

question 24

Multiple Choice

Market segmentation stresses __________ and relating them to specific marketing actions.

• A)grouping people randomly within a market
• B)grouping people according to similar needs
• C)splitting people randomly within a market
• D)dividing people into the smallest groups possible
• E)identifying potential new buyers who are not yet familiar with a new product

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Definitions:

Markup

The amount added to the cost of goods to cover operating expenses and profit, expressed as a percentage of cost.

Direct Labor-Hours

Direct labor-hours refer to the total hours worked by employees directly involved in the production process, used as a basis for allocating labor costs to products.

Machine-Hours

The total hours that machinery is operated during a specific period for production purposes.

Departmental Predetermined Overhead Rates

These rates are calculated to allocate manufacturing overhead costs to specific departments, based on estimated or actual overhead and activity levels.