Explain,in Detail,how You Would Segment the Market and Identify a Target

question 82

Essay

Explain,in detail,how you would segment the market and identify a target market for a university cafeteria.

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Definitions:

Smart TVs

Televisions equipped with internet connectivity and the capability to run apps, offering streaming media services and other advanced features.

80/20 Rule

A concept that suggests 80 percent of a firm’s sales are obtained from 20 percent of its customers.

Fees and Commissions

Earnings or charges based on transactions or services provided, typically in financial services, real estate, or sales sectors.

Sales Promotion Agency

A company specializing in the creation and execution of promotional activities designed to increase sales and enhance brand recognition.