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?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 1

Answer:

Select specific target markets.

Explanation:

Management will investigate the capability of the organization in the last stage or fifth stage of the target market selection process, which is the "select specific target markets". In this stage, there are certain issues that must be resolved and they are;

1. Are there differences in the needs of customers valid to warrant using market segmentation?

2. Which segment should the organization participate?

3. And lastly, are the resources and skills needed to effectively compete in the target market available to the organization at the moment?