After the Market Segmentation Process,the Marketing Manager's Next Task Is

question 147

Essay

After the market segmentation process,the marketing manager's next task is to select one or more target markets.There are three general strategies for selecting target markets.Name and briefly define each of the three strategies.For each strategy,name one advantage and one disadvantage of using the strategy.

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Definitions:

Operating

Pertaining to the ongoing, day-to-day activities necessary for an entity to function, including production, sales, and administrative tasks.

Business Ownership

Business Ownership entails the possession, control, and responsibility over a business entity, including rights to its assets and liabilities.

Corporation

A legal entity that is separate and distinct from its owners, offering Limited liability to its shareholders, and having the ability to raise capital through issuing stock.

Non-profit

A non-profit organization is one that operates for a collective, public or social benefit, rather than to make money for its owners or investors.