You are in the process of starting your own business, a specialty cupcake store. From your study of marketing, you realize that many of your business decisions, such as where to open the store and how to advertise it, will depend on the segment of the population you want to attract as customers for your product. You start looking at data about the types of stores in different parts of the town and the demographics of the individuals in different neighborhoods. What are you doing in this process? 1. marketing to the environment2. engaging in category management3. selecting a target market4. analyzing the wheel of retailing5. creating a promotional strategy

Question

Malik Hendricks

Business

12 January, 20:20

You are in the process of starting your own business, a specialty cupcake store. From your study of marketing, you realize that many of your business decisions, such as where to open the store and how to advertise it, will depend on the segment of the population you want to attract as customers for your product. You start looking at data about the types of stores in different parts of the town and the demographics of the individuals in different neighborhoods. What are you doing in this process? 1. marketing to the environment2. engaging in category management3. selecting a target market4. analyzing the wheel of retailing5. creating a promotional strategy

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Answers (1)

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Lena Kerr · Answer 1

3. selecting a target market

Explanation:

Based on the information provided within the question it can be said that in this process you are selecting a target market. This involves choosing the correct market that will lead to as much sales revenue being generated as possible. This involves looking at a wide array of data in order to find what the individuals in each market are more likely to purchase.