Each company must divide up the total market, choose the best segments, and design strategies for profitably serving chosen segments. This process involves market segmentation, ________, differentiation, and positioning.
A) market targeting
B) marketing implementation
C) supply-chain analysis
D) price discrimination
E) market diversification

Question

Quizplus · Accepted Answer

The statement mentions the process of dividing up the total market, selecting the best segments, and designing strategies to serve those segments profitably. This process involves four key components: market segmentation, market targeting, differentiation, and positioning.
Market segmentation involves dividing the total market into smaller groups of consumers who have similar needs and characteristics. Market targeting involves evaluating the attractiveness of each segment and selecting one or more segments to focus on based on factors such as size, growth potential, profitability, and competitive intensity.
After selecting the target market segment(s), a company must develop a marketing mix strategy that is tailored to meet the specific needs and preferences of those customers. This process involves differentiation, which means creating a unique and valuable position in the market by offering something that competitors cannot easily match.
Finally, positioning involves communicating the company's unique value proposition to the target market segment in a way that creates a clear and compelling image of the brand in the minds of customers.
Therefore, option A) Market targeting is the correct answer as it is the next step after market segmentation in the process of developing a marketing strategy that is tailored to meet the specific needs and preferences of the target market segment(s).

Each Company Must Divide Up the Total Market, Choose the Best