A Large Firm with Ample Resources Wants to Minimize the Risk

question 136

Multiple Choice

A large firm with ample resources wants to minimize the risk of "inviting" competitors to "chip away" at its target market(s) .It has segmented its broad product-market and identified several homogeneous submarkets-each of which is large enough to offer attractive sales and profit potential.Which of the following approaches should the firm use?

• A) Multiple target market approach
• B) Mass marketing approach
• C) Combined target market approach
• D) Single target market approach
• E) Niche market targeting approach

---

Definitions:

Mean

The average value of a series of numbers, found by taking the sum of the numbers and dividing this sum by the quantity of numbers in the series.

Median

In a sequence of numbers sorted from lowest to highest, the median represents the number that lies at the midpoint.

Mode

The commonly encountered value within a series of data.

Mode

The value or category that appears most frequently in a data set.