Identifying Market Segments and Target Customers is crucial for:

A. It allows for mass marketing strategies to be more effective

B. It helps in designing products that appeal to everyone

C. It enables targeted marketing strategies for specific customer groups

D. It ensures the product development process is longer and more complex

A. Reducing employee turnover

B. Setting and achieving long-term business goals

C. Decreasing the importance of customer service

D. Limiting the company's product range

A. Aggressive price cuts to gain market share

B. Diversifying into unrelated industries

C. Enhancing product features to differentiate from competitors

D. Reducing marketing expenditure

A. Conducting annual reviews only

B. Establishing regular feedback loops

C. Ignoring short-term deviations from the plan

D. Relying solely on financial metrics

A. Diversification

B. Market penetration

C. Product development

D. Market development

A. Rigidity in strategy execution

B. No feedback mechanisms

C. Adaptability and responsiveness

D. Ignoring competitor actions