BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There are five principal characteristics that will make a market segment particularly attractive for targeting. Four of these are:(1) it has sufficient current and potential sales and profits; (2) it has the potential for sufficient future growth; (3) it does not have excessive barriers or costs to entry or exit; and (4) it has some relatively unsatisfied needs that the company can serve particularly well. What is the fifth?
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It does not comprise of difficult customers.
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It is not overly competitive
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It is well documented
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It is well established.
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Other companies are already making good profits there.
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Explanation:
Detailed explanation-1: -Five ways to segment markets include demographic, psychographic, behavioral, geographic, and firmographic segmentation.
Detailed explanation-2: -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.
Detailed explanation-3: -Demographic, psychographic, geographic, and behavioral are the four pillars of market segmentation, but consider using these four extra types to enhance your marketing efforts.
There is 1 question to complete.