It has been Shelly's dream to open a bakery, and while she has experience in making all types of baked goods, she always gets ra

Question

3 years ago

9

It has been Shelly's dream to open a bakery, and while she has experience in making all types of baked goods, she always gets ra

ve reviews for her hand-decorated cupcakes. So, rather than open a bakery that offers a wide variety of baked goods, Shelly has decided to open a specialty cupcake shop to cater to that market only. This is an example

Business

1 answer:

finlep [7] · Answer 1 · 2022-10-05T23:01:24+03:00

When Shelly decides to open a specialty cupcake shop to serve just that market, this sets up an example of market segmentation.

<h3 /><h3>What is market segmentation?</h3>

A process of dividing potential customers in a market into groups based on common characteristics, such as preferences, habits, and needs.

Therefore, through market segmentation, an organization is able to align its strategy by offering products and services more focused on consumer desires, increasing its value and positioning in the market.

Find out more about market segmentation here:

brainly.com/question/5545577