BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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market strategy.
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market segmentation.
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a policy statement.
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consumer behavior research.
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Detailed explanation-1: -Market segmentation is a marketing strategy in which select groups of consumers are identified so that certain products or product lines can be presented to them in a way that appeals to their interests.
Detailed explanation-2: -Assessing your current customers and identifying the common characteristics they share is a great way to learn who else could be a potential customer for you. Ask them what they like about your company, how they use your products, how they heard about you (if they are new) and what they prefer about buying from you.
Detailed explanation-3: -A target market is a group of customers with shared demographics who have been identified as the most likely buyers of a company’s product or service.
Detailed explanation-4: -Demographic, psychographic, behavioral and geographic segmentation are considered the four main types of market segmentation, but there are also many other strategies you can use, including numerous variations on the four main types.