________ is the process of evaluating each market segment's attractiveness and selecting one or more segments to enter?
Correct answer: C. Market targeting
- A. Mass marketing
- B. Market segmentation
- C. Market targeting
- D. Market positioning
Explanation
Market targeting follows segmentation: the firm evaluates the attractiveness of each segment and chooses one or more to serve. Positioning then establishes the product’s place in the selected customers’ minds.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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