When a business selects groups or segments that they can serve most profitably, this is called Blank______.Multiple choice question.market segmentationpositioningtarget marketingmarketing research
Question
When a business selects groups or segments that they can serve most profitably, this is called Blank______.Multiple choice question.market segmentationpositioningtarget marketingmarketing research
Solution
The answer is "target marketing". This term refers to the strategy of identifying and marketing to specific segments of the consumer population that are most likely to buy a company's product or service.
Similar Questions
The process of dividing the market into groups of customers who have different needs, wants, or characteristics is called Blank______.Multiple choice question.market segmentationmarket positioningtarget marketingcustomer marketing
The segmentation method that develops or finds products for small, but profitable market segments is Blank______.Multiple choice question.demographic segmentationpsychographic segmentationniche marketinggeographic segmentation
Multiple Choice QuestionThe process of dividing the total market into groups whose members have similar characteristics is market Blank______.Multiple choice question.segmentationaccommodationconcentrationorientation
Multiple Choice QuestionThe fundamental reason a business firm engages in market segmentation is to Blank______.Multiple choice question.better understand its customersincrease its sales and profitscreate conditions for customer loyaltyidentify unsatisfied needs
Multiple Choice QuestionDividing the market into groups whose members have similar characteristics is known as ______.Multiple choice question.market researchmarket penetrationmarket segmentationmarket mixing
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.