Market Segmentation Helps Business Firms to Respond More Effectively to the Wants

question 265

Multiple Choice

Market segmentation helps business firms to respond more effectively to the wants of groups of potential buyers in order to

• A)maintain market share.
• B)increase sales and profits.
• C)assume social responsibility.
• D)use the firm's resources most efficiently.
• E)provide the best quality products on the market.

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Definitions:

Skepticism

An attitude of doubt or a disposition to incredulity either in general or toward a particular object; questioning the validity of a particular claim, theory, or belief.

Pride

A feeling of deep pleasure or satisfaction derived from one's own achievements, the achievements of those with whom one is closely associated, or from qualities or possessions that are widely admired.

Practicality

The aspect of being concerned with the actual doing or use of something rather than with theory and ideas.

Empirical Approach

A method of gaining knowledge through direct observation, experience, or experimentation, emphasizing evidence-based conclusions.