You are the president of a new,capital-rich firm and you must decide on your firm's targeting approach.Three large subgroups exist in your market that have never had their unique needs served.If you don't act now,others will seize the opportunity.What should you use?
A) a concentrated or niche targeting strategy
B) a multisegment strategy
C) a single product with a concentrated strategy
D) an undifferentiated strategy

Question

Quizplus · Accepted Answer

Since there are three distinct subgroups in the market with unique needs, a multisegment targeting strategy would be the best approach. This will allow the firm to tailor their marketing mix to each subgroup and capture a larger portion of the market. A concentrated or niche targeting strategy would only focus on one subgroup, potentially leaving the other two untapped. A single product with a concentrated strategy would also limit the potential market share of the firm. An undifferentiated strategy would not address the unique needs of each subgroup, resulting in a lack of market penetration.

You Are the President of a New,capital-Rich Firm and You