Compare and contrast the three major segmenting strategies
What will be an ideal response?
An undifferentiated marketing strategy ignores market segment differences and targets the whole market with one offer. This mass-marketing strategy focuses on what is common in the needs of consumers rather than what is different. In contrast, a differentiated strategy targets several market segments and designs separate offers for each. Companies hope for higher sales and a stronger position within each market segment. Concentrated or niche marketing goes after a large share of one or a few segments or niches instead of going after a share of a large market. A niche strategy offers smaller companies an opportunity to compete by focusing their limited resources more effectively.
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Absorption costing is commonly used for external reporting
Indicate whether the statement is true or false
Which inventory cost flow method assigns the cost of the most recent items purchased to cost of goods sold?
A) Specific identification B) Weighted average C) FIFO D) LIFO
Business and business transactions are simplified through a part of statutory law that is known as the ___________________________________.
Fill in the blank(s) with the appropriate word(s).
The Revised Act, as amended in 2002, provides for domestication procedures which permit a foreign business corporation to become a domestic partnership or LLC
Indicate whether the statement is true or false