Market Segmentation Has a Profound Impact on

question 55

Multiple Choice

Market segmentation has a profound impact on

• A) the rest of the organization.
• B) competitive activity.
• C) emerging markets.
• D) new product development.
• E) the size of the target group.

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Definitions:

Demographics

The statistical characteristics of human populations, such as age, gender, income, and education, used especially to identify markets.

Buyer Persona

A semi-fictional representation of the ideal customer based on market research and real data about existing customers, helping businesses to understand and cater to their target audience.

Tornado

A violently rotating column of air that is in contact with both the surface of the Earth and a cumulonimbus cloud or, in rare cases, the base of a cumulus cloud.

Customer Demand

The desire and willingness of consumers to purchase goods and services at a given price and time.