Why would a company seek to define its target market as a component in creating the company's marketing strategy?
Answer: If a company carefully defines its target market, the company will be able to focus on people with a preexisting need or interest in what it offers. Therefore resulting in higher sales and less wasted time and effort on potential customers that are not interested in what the company has to offer.
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Which of the following is true regarding price elasticity?
A) The higher the elasticity, the lesser is the volume growth resulting from a 1 percent price reduction. B) Within the price indifference band, price changes have little or no effect on demand. C) If demand is elastic, sellers will consider increasing the price. D) Price elasticity does not depend on magnitude and direction of the contemplated price change. E) When demand is inelastic, sellers should lower prices in order to increase total revenue.
Barney wants to rent an apartment and posts an advertisement in a classifieds website. Two days later, Michael, who wants to rent out his apartment, e-mails Barney and they finalize the deal over the Internet
Barney pays Michael through an online transfer. This is an example of ________. A) e-licensing B) e-commerce C) cybersquatting D) spamming