Question: market segmentation is completed in a few different ways. To determine the characteristics and needs of consumers, surveys are sent out to clients after every
market segmentation is completed in a few different ways. To determine the characteristics and needs of consumers, surveys are sent out to clients after every interaction with a representative of the company. This allows department heads to review and determine if process changes are needed to improve client satisfaction. The company reviews the consumer similarities and differences by comparing these surveys based on the size of the client. This allows us to determine what needs our large-market clients need compared to our small business clients. Lastly, these surveys are then used to group clients into categories based on their likelihood to leave; these categories include low risk, medium risk, and high risk.
Question -
When market segments are defined and chosen, it is often the case that organizations decide to focus on these segments. To what extent should an organization consider segments outside of this selected group?
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