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Questions and Answers
What is market segmentation?
What is market segmentation?
- Identifying a portion of a larger market with shared characteristics (correct)
- Dividing the market into smaller portions based on demand
- Selling a product to different markets
- Focusing on a specific market segment for marketing purposes
What is the definition of value in marketing?
What is the definition of value in marketing?
- Perceived benefits divided by perceived costs
- Subjective relationship between perceived benefits and perceived costs (correct)
- Price of the product compared to competitors
- Objective measure of product quality
What is the target market in marketing?
What is the target market in marketing?
- Portion of a larger market willing to purchase the product
- The entire potential customer base for a product
- Market segments identified according to shared characteristics
- Specific market segments toward which the organization aims its marketing plan (correct)
What is the definition of a market segment?
What is the definition of a market segment?
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What creates demand for a product?
What creates demand for a product?
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