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Rucha rajesh shingvekar
1)The market actually refers to a set up where potential buyers and sellers can meet to exchange goods or services. It is basically a medium that facilitates these transactions in an economy. 2)Common characteristics of a market segment include interests, lifestyle, age, gender, etc. Common examples of market segmentation include geographic, demographic, psychographic, and behavioral. 3)You can evaluate the market potential of a segment by looking at the number of potential customers in the segment, their income and the number of people in the segment who need the kind of product you offer. 4)A segment profile is a detailed description of the market segment across a range of factors and measures. ... In particular, a segment profile would outline important aspects of: consumer needs, consumer behavior, brand preferences, product usage levels, and so on. 5)You must focus your assessment on the potential profitability of each segment, both current and future. Key factors to keep in mind in this analysis include market growth (current size and expected growth rate), market competitiveness (number of competitors, entry barriers, product substitutes), and market access. 6)A target market is the segment of consumers most likely to want or need a business's products or services. This group of people is a subset of the business's total market. ... For example, a children's toy may have boys ages 9–11 as the target market and the boys' parents as the target audience.