A new local coffee shop has noticed that in town there is a Tim Horton's, McDonald's, and Starbucks all competing for individual's daily coffee purchase. They conduct a survey of area residents who enter each one of these stores and learn that 85% desire an organic, fair-trade option. As the local coffee shop is just initiating the segmentation and targeting process, what has the local coffee shop just completed?
A)Recognized a need.
B)Formed prospective buyers into groups.
C)Estimated size of the overall market.
D)Created product groupings.

Question

Quizplus · Accepted Answer

The local coffee shop has recognized a need for an organic, fair-trade coffee option among the area residents, which is the first step in the segmentation and targeting process.

A New Local Coffee Shop Has Noticed That in Town