To find a target market, a firm can use one of these targeting strategies
A) Total market strategy and the undifferentiated strategy
B) Product differentiation strategy and the customer differentiation strategy
C) Demographic strategy and the psychographic strategy
D) Socioeconomic strategy and the psychological strategy
E) Undifferentiated strategy, the concentrated strategy, and the differentiated strategy

Question

Quizplus · Accepted Answer

The options provided in E are all targeting strategies that a firm can use. The Undifferentiated strategy targets the entire market and does not differentiate among various segments. The Concentrated strategy focuses on a single segment while the Differentiated strategy focuses on multiple segments with different offerings for each segment. Therefore, by using these three strategies, a firm can effectively identify and target their ideal market.

To Find a Target Market, a Firm Can Use One