What are the characteristics of large, growing markets which make them desirable?
What will be an ideal response?
• Consumer Demand Validation - stagnant or declining markets (like printed newspapers, thanks to declining
readership) are not seen as a good place to invest scarce company resources.
• Larger Upside Potential - capturing 50 percent of a $1 billion market produces more revenue than 50 percent of a
$1 million market.
• More Available Segments - markets with more segments often generate more revenue, because each segment can
be targeted with different types of products and services. For example, the multibillion dollar video game market
boasts six major segments, from heavy gamers to portable gamers.
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In which of the following steps of the selling process does a salesperson ask a buyer for an order?
A) preapproach B) qualifying C) closing D) prospecting E) approach
Organizations following a(n) ________ strategy try to both minimize risk and maximize opportunity for profit, moving into new products or new markets only after innovators have proven their viability
A) innovation B) cost-cutting C) imitation D) organic E) mechanistic