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What methods can a firm use to identify untapped market segments and assess their potential value?
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- How can a company effectively identify and target the most profitable customer segments within a chosen market? What strategies can be used to maximize profitability within these segments?Why is it essential for organizations to segment markets and target particular groups of consumers?how companies identify attractive market segments and choose a market-targeting strategy?
- What criteria should a lawn equipment company use in assessing the attractiveness of market segments?In what ways can you “segmentize” the market? What are the reasons for segmentizing the market?Discuss the concepts of market segmentation and product positioning, and explain how they are related. What are the variables that can be used to segment markets? Also, how many variables should typically be used to segment markets efficiently? Justify your answer.
- Describe the current competitive market for your product. Can you identify the number of brands or the market share that they hold? Expand your analysis to include other products that are similar or could be substituted for yours.explain how companies identify attractive market segments and choose a market-targeting strategyidentify three possible target markets that might require the services provided by a business and the best marketing approach for each?