GK
MARKETING MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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easy
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moderately difficult
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challenging
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impossible
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Detailed explanation-1: -The first stage of the Consumer Decision Making Process, need recognition takes place when a consumer identifies an unmet need.
Detailed explanation-2: -As its name suggests, market segmentation is the process of separating a market into sub-groups, in which its members share common characteristics. To meet the most basic criteria of a market segment, three characteristics must be present: there must be homogeneity among the common needs of the segment.
Detailed explanation-3: -Market segmentation is a marketing strategy in which select groups of consumers are identified so that certain products or product lines can be presented to them in a way that appeals to their interests.
Detailed explanation-4: -Convenience Goods Like the Crest toothpaste example, convenience goods are products that consumers purchase repeatedly and without much thought.