23 May WILL YOU USE A CONCENTRATED OR A DIFFERENTIATED TARGETING STRATEGY? WHY?
You have just received a sizable inheritance. After giving part of it to charity, you have $500,000 remaining to begin a new retail operation in your local area. What kind of operation will you open?
1. What market or segment of a market exists in your area with unfulfilled needs or wants?
2. Briefly describe the nature of the operation you would open to meet the needs of a specific market segment(s).
3. Product or service?
4. Price range?
5. Location?
6. Will you use a concentrated or a differentiated targeting strategy? Why?
7. What segmentation variables will be useful in describing your target market(s)? Why?
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