Discuss why an organization may decide to target more than one market segment. If more than...

Discuss why an organization may decide to target more than one market segment.

If more than one segment is targeted, what challenges do you think may exist?

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Expert Solution

An organization require to target more than 1 market to diversify its investment in various different area and sectors which will help in distribution of risk and return.It is just like a portfolio of investor which was created to reduce the risk & create a better return portfolio.

Another reason to diversify into various market segment is that there are now groups of buyers that has been defined by their similar needs and wants, with this a company can improve its return on investment through a buyer-based marketing strategy.

Challenges faced in multiple market segment are:-

(1) It create a massive level of competition among various market holders of various product which leads to merger or amalgamation of various competitors at different level.

(2) It is hard to connect and remain connected with the customer.As many different sellers will evolve and sell their goods at a high comparitive price.

(3) Data is one of the biggest factor affecting any market & industries so it will be great challenge that how to collect such data and how to keep such data saftely.

jeff jeffy answered 1 year ago

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