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A market segment meets all criteria for viability. However, what else is necessary for a firm to successfully pursue that segment?
A) The segment should allow for little competition.
B) The segment should be inexpensive to reach.
C) The segment should have synergy with the firm's mission.
D) The segment is easy to reach with traditional forms of communication.
E) The segment's members cannot overlap into other segments.
Market Segment
Refers to the division of the potential market into distinct groups of customers with common needs or characteristics.
Viability
The ability of a business, project, or idea to survive or to sustain itself and achieve long-term success.
Firm's Mission
A statement that defines a company's core purpose, focus, and direction, serving as a guide for its strategies, decisions, and operations.
- Comprehend the criteria for successful market segments and the concept of segment viability.
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Learning Objectives
- Comprehend the criteria for successful market segments and the concept of segment viability.
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