Identify and Explain the Five Criteria for Effective Targeting of Market

question 20

Essay

Identify and explain the five criteria for effective targeting of market segments.
-1. Identification
2. Sufficiency
3. Stability
4. Accessibility
5. Congruent with the company's objectives and resources

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Definitions:

Special Causes

In the context of quality control, special causes refer to sources of variation that are not inherent to the process but arise due to external factors or irregular occurrences.

Process Capability

Process capability refers to the ability of a process to produce output within specified limits.

Design Specifications

Detailed information that outlines the requirements, attributes, and constraints of a design project to ensure its successful completion.

Natural Variation

Refers to the inherent fluctuations in processes and measurements that occur even under stable conditions.