Answer to Question #174221 in Marketing for Kev

Question

Explain how company's identify attractive marketing and Choose a target marketing strategy

Answer 1

A company uses several aspects for targeting an attractive market, such as the size of the market, growth, stability, and competition that affects the business or firm to target an attractive market is analyzed using rational analysis. Thus, a good marketer will consider factors the market growth rate, the current market size, the current margins in the market, whether or not prices are increasing or decreasing, how many competitors are in the market to identify if it's an attractive market.

To choose a marketing strategy, a company will look at the types of customers who are likely to purchase their products or use their services. They will also consider age, gender, income level, marital status, occupation, educational level, gender, and ethnic background and identify which customer categories have the greatest need for their products.