Question

Carolina Biological Supply Company sells science instructional materials. It wants to grow beyond the current customer base and identify potential markets besides the public education systems. What is the order it should follow to take in the market targeting process?

Answer 1

Answer: B) identify business needs, segment total market, profile target customer segment, research and validate marketing opportunity

Explanation:

The options for the question are:

A) research and validate marketing opportunity, identify business needs, segment total market, profile target customer segment, research and validate marketing opportunity

B) identify business needs, segment total market, profile target customer segment, research and validate marketing opportunity

C) profile target customer segment, identify business needs, segment total market, research and validate marketing opportunity

Market targeting simply has to do with selecting target market from whole market and it should be noted that target market are the people that company or organization wants to satisfy.

In the scenario above, the first thing is to identify business needs. Every successful company has to identify its business needs. After then, market segmentation takes place and this is when potential customers are being divided into segments or groups as a result of the features they possess like location and interests.

After then, the target customer segment are being profiled. This is done in order to know more about the customers and to also tailor the products towards the requirements of the segments. Lastly, the marketing opportunity is being researced and validated.