When a Business Market Segment Is Large or Profitable Enough

question 3

Multiple Choice

When a business market segment is large or profitable enough to serve,it is termed ________.

• A) measurable
• B) accessible
• C) substantial
• D) actionable
• E) differentiable

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Definitions:

Market Segmentation

The process of dividing a broader market into specific groups based on characteristics like age, income, preferences, or needs.

Specific Marketing Actions

Concrete steps or initiatives undertaken by a business to achieve its marketing objectives and enhance its market position.

Market Segment

A segment of a larger market defined by its own unique needs, preferences, or identity that differ from the larger market.

Product Differentiation

A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive a product as being different and better than competing products.