You Are the President of a New,capital-Rich Firm and You

question 146

Multiple Choice

You are the president of a new,capital-rich firm and you must decide on your firm's targeting approach.Three large subgroups exist in your market that have never had their unique needs served.If you don't act now,others will seize the opportunity.What should you use?

• A) a concentrated or niche targeting strategy
• B) a multisegment strategy
• C) a single product with a concentrated strategy
• D) an undifferentiated strategy

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Definitions:

Group Polarization

The phenomenon where discussions within a cohesive group lead to the adoption of more extreme positions or attitudes than initially held by individual group members.

Racially Prejudiced

Holding prejudgment, bias, or discrimination against individuals based on their race or ethnicity.

Just-world Phenomenon

The cognitive bias that assumes good things happen to good people and bad things happen to bad people.

Groupthink

A psychological phenomenon that occurs within a group of people, where the desire for harmony and conformity results in irrational or dysfunctional decision-making outcomes.