A market segment is an individual customer who shares similar inclinations toward your brand.

A market segment is an individual customer who shares similar inclinations toward your brand.
 a. True
  b. False
 Indicate whether the statement is true or false

Question 2

In the Item Procurement Importance Matrix, what item is described as low risk, low value?
 a. generics
  b. commodities
  c. criticals
  d. distinctives

Question 3

ABC Groceries has established private labels in several categories, including locally grown canned fruits and vegetables. This is an example of backward integration.
 a. True
  b. False
 Indicate whether the statement is true or false

Question 4

Janet has agreed to participate in surveys online. Every few weeks, she is sent an email asking her to participate in an online survey. What did Janet most likely do to become involved in these research studies?
 a. opted out
  b. opted in
  c. randomized herself
  d. met a quota

Question 5

Collectively, a marketplace of consumers is homogeneous.
 a. True
  b. False
 Indicate whether the statement is true or false

Question 6

Which approach represents a strategy in which the entire organization is focused on the examination of process variability and continuous improvement?
 a. Total Quality Management
  b. Six Sigma
  c. Lean Enterprise Management
  d. Theory of Constraints
  e. None of the above

Question 7

Maya's family owns the only pharmacy in Smalltown. Adeline's family owns the only grocery store in town. A few items are sold by both retailers. This is an example of vertical competition.
 a. True
  b. False
 Indicate whether the statement is true or false

Question 8

Which type of sampling error is primarily due to the nature of a study's design and the correctness of study execution?
 a. random sampling error
  b. systematic sampling error
  c. primary sampling error
  d. secondary sampling error

Question 9

In marketing, we deal with customer differences through segmentation.
 a. True
  b. False
 Indicate whether the statement is true or false