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. Conducting annual reviews only

B. Establishing regular feedback loops

C. Ignoring short-term deviations from the plan

D. Relying solely on financial metrics

A. Invest heavily in new product development

B. Focus on market penetration strategies

C. Consider divestiture or harvesting

D. Expand the target market aggressively

A. The internal capabilities of an organization

B. The competitive intensity and attractiveness of a market

C. The macroeconomic environment

D. The financial health of a company

A. Direct investment

B. Licensing

C. Joint ventures

D. Franchising