A market includes any person or entity that has the willingness and the purchasing power to buy a product.
True
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15
Baby Boomers are decreasing in popularity as a market segment due to their declining disposable income.
False
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15
Core regions are locations where marketers get the majority of their sales.
True
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15
During the process of market segmentation, finalizing the marketing strategy and tactics helps firms to determine the costs of marketing and the expected level of resources it must commit.
True
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15
A hotel purchases towels for use in its rooms. In this context, these towels will be considered business products.
True
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fairy
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lifesaver
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15
Division of the total market into smaller, relatively homogeneous groups is known as market optimization.
False
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rocket
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banana
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15
Concentrated marketing strategy ties a firmâs growth to a specific market segment.
True
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15
The target market for a product is the specific segment of consumers most likely to purchase that particular product.
True
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15
Items can be classified as business products, not because of what they are, but because of how they will be used.
True
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15
Psychographic segmentation helps marketers to gain a sharper insight into consumer purchasing behavior.
True
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15
Division of an overall market into homogeneous groups based on their locations constitutes socioeconomic segmentation.
False
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15
Targeting a large number of small markets can produce an expensive, complex, and inefficient marketing strategy.