The process of selecting the segments to serve by offering product is referred as?
Correct answer: B. Targeting
- A. Market segmentation
- B. Targeting
- C. Marketing
- D. Both a and b
Explanation
Targeting is the process of evaluating market segments and selecting which ones the firm will serve with its product or offering. Market segmentation comes earlier, when the market is divided into distinct groups.
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Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
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