Explain potential, alignment, and marketability with respect to targeting consumer markets
What will be an ideal response?
Once the segments of a market have been identified by a company, the next step is to decide which of the segments
the company should target. Targeting every segment is generally not profitable. The following three factors must be
considered while targeting a market:
Potential: To extract financial benefit from a segment, it should be large, growing, and profitable to serve.
Alignment: The segment should align with the mission, resources, and competitive advantages of the organization.
We need to determine if consumers perceive a fit between the technological capabilities of the company and the
needs of the segment.
Marketability: Segments should also have certain characteristics to facilitate marketability, the ability to market
effectively to that segment. We need to consider accessibility—the ease of reaching our target market. We also need
to ensure that the segments are distinct from each other. Another characteristic is the ease of creating a value
proposition that clearly differentiates our service or product from others in that segment.
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Which of the following scenarios would cause cognitive dissonance, as defined by the text?
a. An employee is pressured by their manager to falsify sales numbers and discovers that the action helps the company’s bottom line. b. A person justifies stealing based on the need to feed his family, but then he sees that it helps his children stay healthy. c. A person decides to lie for the first time to achieve better results at work but is caught. d. A person believes stealing is harmless but then sees the pain it causes a victim.
Accounting principles require that LIFO inventory be reported at the market value (cost) of replacing inventory when market value is lower than cost.
Answer the following statement true (T) or false (F)
A retailer that utilizes a form of organization that allows branch personnel to order merchandise classifies jobs through a geographic classification system
Indicate whether the statement is true or false
An Internet distributor of office supplies has a system of bidding and awarding contracts online for customer purchases. This is most likely a ____ model.
A. B2B B. C2C C. B2C D. C2B E. cross-functional