After Evaluating Identified Segments,decisions Have to Be Made Whether to Pursue

question 51

Essay

After evaluating identified segments,decisions have to be made whether to pursue a particular opportunity or not.Assuming the decision is made to proceed,an appropriate targeting strategy must be developed.Explain the basic categories of target marketing strategies and how they can be implemented.

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Definitions:

Product Life Cycle

The stages a product goes through from development and introduction to growth, maturity, and decline in the market.

Price Sensitive

Describes consumers or markets that react strongly to changes in prices, where demand can significantly increase or decrease in response to price adjustments.

Introductory Stage

The initial phase in a product's lifecycle, where the focus is on marketing to build product awareness and develop a market for the product.

Growth Stage

The growth stage is a phase in the product life cycle characterized by rapid revenue and sales increases, along with more intense competition.