Development should include identification of the type of product or business to be offered and an analysis of the target market in terms of types of segmentation.
Process/Skill Questions:
- How can market segmentation influence promotion, distribution, and price decisions?
- Why is it important to keep an eye on trends within the market segment? How can that affect product planning?
- What data is required to perform a market segmentation analysis?
- How can market segmentation data be obtained?