Explain How Companies Identify Attractive Market Segments and Choose a Target

question 105

Essay

Explain how companies identify attractive market segments and choose a target marketing strategy.

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Definitions:

Surplus

An excess of production or supply over demand, often leading to lower prices.

Market Economy

An economic system where supply and demand from consumers and producers determine the production of goods and services.

Free Stuff

Items or services offered without charge, usually as part of a promotional strategy or as incentives.

Private Good

A type of good that is rivalrous and excludable, meaning its consumption by one individual prevents others from consuming it.