What are the four critical concepts that are essential to understanding and becoming fluent in the language of marketing (select four that apply)?
a. Segmentation and targeting clarify how customers will be served.
b. Segmentation breaks down the mass mar-ket into submarkets.
c. Targeting takes into account the whole market that can be considered in terms of smaller market segments.
d. Differentiation calls for the creation of superior value.
e. Positioning the product is completed in a manner where customers perceive it to be distinctive and desirable.
B, C, D, E
Segmentation and targeting are the means of decision making about which customers will be served. Differentiation and positioning clarify how customers will be served. Segmentation in-volves identifying pieces of the total market that contain potential customers with distinguishable characteristics such as age, gender, geographic location, or ethnicity. Targeting takes into account the whole market that can then be considered in terms of attractive smaller market segments. A product offering's differentiation calls for the creation of superior customer value and is typically what strengthens its position in the market against competitors. Positioning the product such that customers perceive it to be distinctive and desirable is the foundation of the marketing program.
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