Once a firm has segmented the market, the next step is to ________.

Name: Once a firm has segmented the market, the next step is to ________.
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Question

Quizplus · Accepted Answer

After segmenting the market, the next step is to select a target market to focus on. This involves evaluating each segment's attractiveness and selecting one or more segments to serve. The decision on a position within the segment, pricing, establishing the company's brand, and deciding on the marketing mix (4Ps) all come after selecting the target market.

Once a Firm Has Segmented the Market, the Next Step