The process of defining customer focuses on selling a product to existing market is called _________?
Correct answer: A. target market definition
- A. target market definition
- B. strategic market definition
- C. financial market definition
- D. business analysis definition
Explanation
Target market definition identifies the customer group the firm intends to serve, such as existing customers for an existing product. The other listed definitions are not standard labels for this marketing process.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? support@testustad.com
About Marketing
Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
Practise Marketing
1,700 free Marketing MCQs from Management Sciences, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Management Sciences questions like this
Management Sciences is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Marketing questions
For the planning of period, the development of specific goals is called __________?
The planning of target market and value proposition of firm is the part of ___________?
When two companies join hands to market new or complementary products, it is best classified as __________?
The assessment of growth opportunities is the part of ____________?
When a firm offers logistical services for some other company's product, it is said to be _________?
When a company agrees to promote product of other company it is classified as _________?