At what stage of the target market selection process is management likely to investigate whether the organization has sufficient financial resources

Question

Abbigail Dean

Business

20 October, 17:56

At what stage of the target market selection process is management likely to investigate whether the organization has sufficient financial resources

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Shania House · Answer 1

Complete Question:

At what stage of the target market selection process is management likely to investigate whether the organization has sufficient financial resources, managerial skills, employee expertise, and facilities to compete effectively in selected segments?

Available options are:

A. Identify the appropriate targeting strategy.

B. Select specific target markets.

C. Determine which segmentation variables to use.

D. Develop market segment profiles.

E. Evaluate relevant market segments.

Answer:

B. Select specific target markets.

Explanation:

The reason is that when the company decides to select a market it assesses its capabilities and also do considers its weaknesses and possible threats. This way of assessing the position is called position analysis which the company is conducts at appraising a target to take all the precautions so that the plan is executed with due care.