Please answer all the questions.

7. Market segmentation is: Dividing a market between several sellers (an oligopoly) Dividing a market into 3 or 4 target markets The process of dividing a market into distinct subsets of customers that have similar needs and characteristics Dividing a market based on the customers' geographic location Question 8 0.25pt 8. Market segmentation is increasing in importance because: Many product categories are in the introduction or growth phase of the product life cycle Demand by customers may exceed the ability of sellers to supply Margins as a percentage are higher than in the past The ability of sellers to supply may exceed demand 9. Target marketing is: Choosing target markets before moving on to market segmentation Evaluating the relative attractiveness of various market segments Deciding to enter consumer markets Developing the marketing mix before moving on to market segmentation and positioning