What is market segmentation

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1. Marketing strategy is most successful when it has:

an internal focus

an accounting focus

a printed marketing document

a customer orientation

a bonus program in place

2. What is market segmentation?

Dividing people into common groups based on Zip Code.

Grouping products into distinct categories based on their historical sales levels

Creating segments based on the five income levels

Dividing your store (market) in separate areas for each kind of product that you sell

Identifying and grouping potential customers by geographic, demographic, and psychographic attributes according to common characteristics and needs

3. Market research is designed to:

Help determine what is important to customers and how they want product to perform

Produce a product that will have the highest Reliability possible

Understand the funding of the business

Track revenues and expenses to improve business information and planning

Create a product that will sell at any price

4. Flexibility falls under which essential skill needed by today’s managers:

system skills

political skills

financial skills

people skills

5. A firm has good associations with its customers, suppliers, and others who provide added mutual value for the firm. Name the form of intellectual capital that is possessed by the firm due to its good associations.

structural capital

relationship capital

human capital

knowledge capital

6. Which of the following is most closely associated with corporate social responsibility (CSR)?

knowledge management

triple bottom line

absorptive capacity

adaptive ability

Reference no: EM132275078

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