
Long questions with answers for this topic
A good market segment should be:
These conditions ensure segmentation is practical and profitable.
Market segmentation is dividing a broad market into smaller groups of customers with similar needs/characteristics and buying behaviour.
Targeting is selecting one or more market segments that the firm will serve after evaluating them.
Positioning is creating a distinct image/value of a brand in the mind of target customers relative to competitors.
Income is a base of demographic segmentation.
A target market is the chosen segment(s) of customers to whom the company directs its marketing efforts.
A perceptual map is a diagram that shows how consumers perceive competing brands on key attributes.
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