Explain why a retailer should be concerned with market segmentation and identifying a target market. Define and discuss the three criteria that should be met to reach a target market.NOTE: the criteria is in the photo attached. Selecting a Target Market• Criteria to successfully reach a target marketSeek a measurable market segment• Accessibility• Segment should be substantial or large enough tobe profitable for the retailerLO 1

Serving the needs of the entire market is physically and practically not possible for a single firm.…

Explain why a retailer should be concerned with market segmentation and identifying a target market. Define and discuss the three criteria that should be met to reach a target market. NOTE: the criteria is in the photo attached

Explain why a retailer should be concerned with market segmentation and identifying a target market. Define and discuss the three criteria that should be met to reach a target market. NOTE: the criteria is in the photo attached

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

Selecting a Target Market
• Criteria to successfully reach a target market
Seek a measurable market segment
• Accessibility
• Segment should be substantial or large enough to
be profitable for the retailer
LO 1

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