A large firm with ample resources wants to minimize the risk of "inviting" competitors to "chip away" at its target market(s). It has segmented its broad product-market and identified several homogeneous submarkets--each of which is large enough to offer attractive sales and profit potential. Which of the following approaches should the firm use?
A) Multiple target market approach
B) Mass marketing approach
C) Combined target market approach
D) Single target market approach
E) All of the above

Question

Quizplus · Accepted Answer

The multiple target market approach allows the firm to cater to different submarkets with tailored strategies, minimizing the risk of competition by addressing specific needs and preferences of each segment.

A Large Firm with Ample Resources Wants to Minimize the Risk