When a firm's management is making the final selection of specific target markets to enter, it should consider whether the organization has the financial resources, managerial skills, expertise, and facilities needed to effectively compete in the selected segments. True or false?

Question

Business

Isaac Obrien

13 June, 05:01

When a firm's management is making the final selection of specific target markets to enter, it should consider whether the organization has the financial resources, managerial skills, expertise, and facilities needed to effectively compete in the selected segments. True or false?

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Answers (1)

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Sullivan Riggs · Answer 1

True

Explanation:

When a firm intends to penetrate a new market segment, certain factors are to be considered which include;

1. it should consider whether the organization has the financial resources, managerial skills, expertise, and facilities needed to effectively compete in the selected segments.

2. The presence of consumers in that segment.

3. Whether the have the appropriate market strategy to compete in that segment.