Explain how a marketer determines whether an identified market segment is viable
What will be an ideal response?
A viable target segment should satisfy several requirements. First, members of the segment should be similar to each other in their product needs and wants and, at the same time, different from consumers in other segments. Second, the segment should be measureable. Marketers need to know whether the size and purchasing power of the segment make it a worthwhile target. If the segment is measureable, marketers need to decide whether it is large enough to be profitable now and in the future. Another critical consideration is whether marketing communications can reach the identified segment. Finally, marketers must be able to adequately serve the needs of the identified segment.
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Strong brands achieve the following, except:
A) allow a company to charge more for products B) create brand parity C) provide customers assurance of quality D) transfer to other products or brands the company sells
According to Table 13-2, what is the cumulative probability that demand is less than or equal to 7?
A) 0.85 B) 0.95 C) 0.80 D) 0.15 E) None of the above
A bilateral contract comes into existence at the moment promises are exchanged
Indicate whether the statement is true or false
The process of systematically gathering, recording, and analyzing data concerning a particular marketing problem is called
A. marketing research. B. target marketing. C. marketing segmentation. D. market sampling. E. decision research.