Once a Firm Has Segmented the Market, the Next Step

question 4

Multiple Choice

Once a firm has segmented the market, the next step is to:

• A) decide on a position within the segment
• B) select a critical market
• C) select a target market
• D) select a focal market
• E) immediately decide on the "4Ps" of the marketing strategy

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Definitions:

Identity-Image

refers to how a brand or individual perceives their own identity versus how others view it.

Culture-Image

The perception and reputation of a brand or entity shaped by cultural elements and societal beliefs.

Culture-Identity

The connection and relationship between an individual’s or group's culture and their self-concept or sense of identity.

Brand's Identity

The collection of attributes and values that define how a brand presents itself to the market and distinguishes itself from competitors.