Marketers Concerned About _____ _____ When Selecting a Target Market

question 107

Short Answer

Marketers concerned about _____ _____ when selecting a target market may use a SWOT analysis to determine if the firm will be successful targeting a specific segment.

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Definitions:

Long Run

A period of time sufficient for all adjustments to be made in an economy or market, considering all possible changes in production.

Average Costs

The total cost of production divided by the number of units produced, used to determine the average expense per unit.

Marginal Costs

The increase or decrease in the total cost that results from producing one more or one less unit of a good or service.

Marginal Productivity

The additional output that results from using one more unit of a specific factor of production, holding all other factors constant.