GK
MARKETING MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
true
|
|
|
false
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -Why do companies use segmentation? The importance of market segmentation is that it allows a business to precisely reach a consumer with specific needs and wants. In the long run, this benefits the company because they can use their corporate resources more effectively and make better strategic marketing decisions.
Detailed explanation-2: -What Is a Customer? A customer is an individual or business that purchases another company’s goods or services. Customers are important because they drive revenues; without them, businesses cannot continue to exist.
Detailed explanation-3: -Marketing is an exchange: the company offers something (e.g., a flight), and the customer offers something in return (e.g., a payment). Some customers will seek value and low prices, while others seek top quality.
Detailed explanation-4: -mass marketing The use of one basic marketing strategy to appeal to a broad range of consumers without addressing any distinct characteristics among them.