BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Market segmentation
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Market Targeting
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Market positioning
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All of the above
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Detailed explanation-1: -Target marketing would revolve around deploying marketing techniques for a particular segment of markets which could be key to attract new customers, expand business opportunities across geographies and expand distribution network to widen the reach.
Detailed explanation-2: -A target market is the specific group of people you want to reach with your marketing message. They are the people who are most likely to buy your products or services, and they are united by some common characteristics, like demographics and behaviors.
Detailed explanation-3: -The four target markets are geographic, demographic, psychographic, and behavioral.
Detailed explanation-4: -To be an effective target, a market segment should be: 1) identifiable, 2) sizable, 3) stable or growing, 4) accessible (reachable), and (5) congruent with the marketer’s objectives and resources.