What is the main purpose of selecting a target market?
Correct answer: D. To identify the specific customer group an organisation chooses to serve
- A. To serve every possible customer with the same offering
- B. To ensure that competitors cannot enter the industry
- C. To eliminate the need for market research and customer analysis
- D. To identify the specific customer group an organisation chooses to serve
Explanation
Targeting involves evaluating market segments and choosing one or more groups for focused marketing efforts. It does not mean serving everyone or preventing competitors from entering the market.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Marketing
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.
Practise Marketing
1,700 free Marketing MCQs from Management Sciences, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Management Sciences questions like this
Management Sciences is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Marketing questions
A clothing company divides its market into groups based on age, gender and income. Which basis of segmentation is it using?
Which statement best distinguishes marketing from selling?
In marketing, positioning refers to:
Which element of the traditional marketing mix is mainly concerned with distribution channels and product availability?
A firm launches a new technological product at a high initial price to recover development costs from customers willing to pay more. Which pricing strategy is this?
During which stage of the product life cycle do sales growth usually slow, competition intensify and firms often modify the product?