Taking into consideration a company of your choice and its products/services,
- Discuss how companies choose target-marketing strategy and identify attractive market segments. Improve your answer with examples.
- How do firms manage all of their products and services? What are the steps in the best development process for new products/services?
Unformatted Attachment Preview
Purchase answer to see full attachment
Explanation & Answer
Running Head: MARKET STRATEGY
A market strategy is a process of selecting and describing one or more target markets that an
organization will identify business opportunities. A target market is a predefined group that has
the interest in purchasing a company’s products or services. Once an organization identifies a
target market, it proceeds to create a target market strategy to determine how to promote,
communicate and reach the target. Various ways aid a firm in choosing a target market strategy.
Identifying target markets.
The first step in choosing a market strategy is through conducting a Marketing Opportunity
Analysis (MOA). The process enables companies to identify the potential in the market, the