Explain how companies identify attractive market segments and choose a market-targeting strategy.

Expert Solution

A firm must look at three factors when evaluating market segments:

• Segment size and growth

• Segment structural attractiveness (ex. Supermarkets offering takeaway meals; Airline requiring 50 hotel rooms per night)

• Company objectives and resources (ex. Joe’s Crab Shack)

When selecting market segments, a company can adopt one of three market-coverage strategies:

• Undifferentiated marketing (ex. Public cafeterias)

• Differentiated marketing (ex. Accor, Starwood and Ritz-Carlton)

• Concentrated marketing (ex. Chuck E. Cheese)

Junaid answered 4 months ago

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