Ch 6 Look Over MOS

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Western University
Management and Organizational Studies
Management and Organizational Studies 1021A/B
Kevin Thompson

Five general criteria are often used to pick target segments. They include the size of the market, expected growth of the market, competitive position of the firm with respect to the market, and compatibility with the organization's objectives and resources. What is the fifth criterion? → cost of reaching the segment time required to create awareness need to conform to government regulations how long target market members have been customers Segmenting a market requires a number of skill(s): → Strong analytical skills Sound strategic thinking Understanding of the consumer All of these In addition, a vision on where the market is heading and how this all fits with the company’s direction. What is the seventh step in the eight-step process for segmenting a market? Conduct a profit-and-loss financial analysis → Create a sales forecast Identify the segment that best meets company objectives Review company objectives Refer to figure 6-1.
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