What steps are involved in identifying a company s target customer? Select all that apply. Segmenting...

What steps are involved in identifying a company s target customer? Select all that apply. Segmenting and breaking down the total market Determining which new products are entering the market Researching and validating the company s market opportunity Identifying campaigns that can increase customer loyalty

Expert Solution

The steps involved in identifying a company's target customer are , Segmenting and breaking down the total market,researching and validating the company's market opportunity,identifying campaigns that can increase customer loyalty.

The process involved in creating small segments in a broad market so as to assess the target market for different brands is segmentation. This is helpful to the marketers as they can make different strategies in order to promote their products in the target market.In a market segment there are different individuals with same choice ,same interest and preferences and all have inclination towards similar products .

Market research will help in identifying new market opportunities that might be available to the market.This helps in identifying the target customers.Conducting market research and choosing which market to serve is important .It helps in identifying geographic regions for expansion and the readiness of the customer to accept the new product.

Identifying campaigns that will increase the loyalty of the customers towards the brand is very important..Loyalty marketing is a strategy that encourages the existing customers to purchase the product again and again . This also helps in enticing new customers. This helps in reaching target audience.

Rahul Sunny answered 2 years ago

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