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Before a company decides to target a particular market segment, which important factors are to be examined against organisation's objectives and resources?
  • a)
    Market size
  • b)
    Growth rate
  • c)
    Structural attractiveness
  • d)
    All of the above
Correct answer is option 'D'. Can you explain this answer?
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Before a company decides to target a particular market segment, which ...

Factors to be examined before targeting a market segment:

- Market size: It is crucial to assess the size of the market segment as it will determine the potential revenue and profitability of the target segment.
- Growth rate: Understanding the growth rate of the market segment is essential to ensure long-term viability and sustainability of targeting that segment.
- Structural attractiveness: This factor involves analyzing the competitive landscape, barriers to entry, and overall attractiveness of the market segment for the organization.
By examining these factors against the organization's objectives and resources, companies can make informed decisions on which market segment to target. It is important to align the chosen segment with the company's goals and capabilities to maximize the chances of success. Additionally, considering these factors helps in identifying opportunities and potential challenges that may arise when targeting a specific market segment.
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Before a company decides to target a particular market segment, which ...
Market segmentation is the process of dividing prospective consumers into different groups depending on factors like demographics, behaviour and various characteristics. Market segmentation helps companies better understand and market to specific groups of consumers that have similar interests, needs and habits. Before a company decides to target a particular market segment, some important factors like market size, growth rate, structural attractiveness are to be examined against organisation's objectives and resources.
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Before a company decides to target a particular market segment, which important factors are to be examined against organisations objectives and resources?a)Market sizeb)Growth ratec)Structural attractivenessd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?
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