INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Because the definition of “value for money” differs from group to group.
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Because they can clearly defined location or specific customer group that an enterprise wishes to serve.
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A is the correct answer
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Both A and B is correct.
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Detailed explanation-1: -The goal of market segmentation is to help businesses understand distinct groups of consumers that make up their market. By grouping people with similar characteristics and attributes, marketers can effectively target the segments that are most valuable to their business.
Detailed explanation-2: -Segmentation helps marketers to be more efficient in terms of time, money and other resources. Market segmentation allows companies to learn about their customers. They gain a better understanding of customer’s needs and wants and therefore can tailor campaigns to customer segments most likely to purchase products.
Detailed explanation-3: -Importance of Market Segmentation It allows companies to tailor their services, products, or marketing to the specific needs of their target group. Without this, brands develop one strategy for all target markets-this leads to wasted marketing efforts.
Detailed explanation-4: -Customer micro-segmentation is the practice of dividing a company’s customers into groups relevant to a particular business. The goal of segmenting customers is to decide how to relate to customers in each segment in order to maximize the value of each customer to the business.