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Strategic coherence is an essential element for assuring that a company's mission/vision is realized.Describe the factors that are involved in creating strategic coherence.Use an industry example to support your description and explain how the objectives meet the SMART criteria (Specific,Measurable,Appropriate,Realistic,Timely).
Market Segmentation
The process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into subsets of consumers (known as segments) based on some shared characteristics.
Monopoly Power
The market dominance of a single supplier, often characterized by the ability to control prices and exclude competition.
Price Discriminate
The strategy of selling the same product to different customers at different prices based on willingness to pay, market segment, or conditions.
Profit-maximizing Monopolist
A monopolistic firm that determines its level of production and price by aiming to maximize its profits, where it faces no competition.
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