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) Niche market targeting approach

Question

Quizplus · Accepted Answer

The firm should use the multiple target market approach. It means segmenting the market and choosing two or more segments, and then treating each as a separate target market needing a different marketing mix.

A Large Firm with Ample Resources Wants to Minimize the Risk