Which of the following steps are part of the segmentation, targeting, and positioning process? More than one answer may be correct.Multiple select question.Develop the marketing planSelecting target marketIncreasing benefitsEstablish strategy or objectivesEvaluating segment attractiveness
Question
Which of the following steps are part of the segmentation, targeting, and positioning process? More than one answer may be correct.Multiple select question.Develop the marketing planSelecting target marketIncreasing benefitsEstablish strategy or objectivesEvaluating segment attractiveness
Solution
The steps that are part of the segmentation, targeting, and positioning process are:
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Establish strategy or objectives: This is the first step in the process where the overall business objectives are determined.
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Selecting target market: After the market has been segmented, the next step is to select the target market. This involves deciding which segments offer the best opportunity for achieving the company's objectives.
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Evaluating segment attractiveness: This is an important step in the process where the attractiveness of the different segments is evaluated. This involves looking at factors such as the size of the segment, its growth potential, the level of competition, and the company's ability to serve the segment.
Developing the marketing plan and increasing benefits are not typically considered steps in the segmentation, targeting, and positioning process. However, they could be related activities. For example, once the target market has been selected, the next step could be to develop a marketing plan for reaching this market. Similarly, increasing benefits could be a strategy used to make a product or service more attractive to a particular market segment.
Similar Questions
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