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Teds The Cactus
on Dec 18, 2024

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Michael has identified four potential market segments for his Rent-A-Teacher service. He will now compare the segments to see if they are distinct from each other. Michael is evaluating whether or not each segment is

A) identifiable.
B) responsive.
C) profitable.
D) reachable.
E) substantial.

Market Segments

The process of dividing a target market into smaller, more defined categories based on characteristics like demographics, needs, priorities, common interests, or other psychographic or behavioral criteria.

Responsive

This term often refers to technology or design that automatically adjusts to the device it's viewed on, ensuring an optimal user experience.

Profitable

The state of yielding financial gain or benefit, where the income generated from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.

  • Understand the concept of market segmentation and its importance.
  • Gain proficiency in evaluating the allure of different market segments.
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ankita ParvathaneniDec 23, 2024
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