Which of the following is true of the target market?Group of answer choicesThe identification of market segments is a necessary precursor to the selection of a target market.The target market comprises the segment of people thought to have the least potential for a business.The more preferences shared by people in the market, the less easy it is to create a marketing mixThe target market is a relatively heterogeneous subgroup of people with diverse habits and lifestyles.

Market segments and target markets are the basis for creating an effective _______________ mix.Group of answer choicestargetsegmentmarketing mixniche mix PreviousNext

Economic segmentation, dividing a market into relatively homogeneous subgroups that behave much the same way in the marketplace, is the necessary precursor to selecting a target market or target markets.Group of answer choicesTrueFalse

What does target marketing serve to accomplish?Multiple choice question.to identify groups or segments that a business can serve profitablyto identify what products a segment needsto identify markets not served by competitorsto identify every possible segment of the market

I. Target market is a broader concept than market.II. Market refers to all potential customers for a product or service.Group of answer choicesBoth statements are TrueStatement I is True; Statement II is FalseBoth Statements are FalseStatement I is False, Statement II is True

After a firm has identified a group of market segments, it does which of the following?Multiple select question.Identify which groups will respond similarly to its marketing effortsUse the targeting processEvaluate each segment's attractivenessDetermine which segments to pursue