The company,Eco Nuts was featured on Shark Tank and has become one of the show's success stories due to the growing acceptance of their product as an alternative to traditional laundry detergent.The company typically targets women,aged 40 to 65 who have total annual household income above $60,000 and are concerned about sustainability.What step in the market segmentation process has Eco Nuts utilized with this description?
A)develop a relevant profile for each segment
B)forecast market potential
C)forecast probably market share
D)select specific market segments

Question

The company,Eco Nuts was featured on Shark Tank and has become one of the show's success stories due to the growing acceptance of their product as an alternative to traditional laundry detergent.​The company typically targets women,aged 40 to 65 who have total annual household income above $60,000 and are concerned about sustainability.What step in the market segmentation process has Eco Nuts utilized with this description?
A)​develop a relevant profile for each segment
B)​forecast market potential
C)​forecast probably market share
D)​select specific market segments

Quizplus · Accepted Answer

Eco Nuts has developed a relevant profile for each segment by identifying specific demographic and psychographic characteristics of their target market, such as age, income, and concern for sustainability.

The Company,Eco Nuts Was Featured on Shark Tank and Has