New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    A local coffee shop conducts a survey of area residents

    who enter each one of the coffee shops in the area and learns that 85% desire an organic, fair-trade option. As the local coffee shop is just initiating the segmentation and targeting process, what has the local coffee shop just completed?
    A Recognized a need. Correct Answer Incorrect Answer
    B Formed prospective buyers into groups Correct Answer Incorrect Answer
    C Created product groupings Correct Answer Incorrect Answer
    D Estimated size of the overall market. Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    While students will think of selecting option "formed prospective buyers into groups," in this scenario, the local coffee shop is only just initiating the process, and first recognized the need of prospective customers.

    Practice Next