Question

The Coffee Collective is seeking to identify customers who want a unique coffee-drinking experience and are open to a loyalty rewards program. In doing so, the Coffee Collective is determining its ___________.

Answer 1

Answer: Market segment

Explanation: A market segment can be defined as group of potential customers of an organization. Such grouping is done by the organization on the basis of similar preferences of individuals. The organisations in the market do this to ensure their target market, so that they can enforce their marketing strategy in such markets.

In the given case, coffee collective is trying to identify customers that have a certain preference. Hence we can conclude that coffee collective is determining its market segment.