Identify and explain the six characteristics market segments should possess

What will be an ideal response?

• Mutually exclusive —Each segment is conceptually separate from all the others
• Exhaustive — Every potential target market member is included in some segment
• Measurable — The size and relevant characteristics of the segments can be measured.
• Reachable — Each of the segments can be effectively reached and served
• Substantial — Each segment is large enough to be worth pursuing
• Differentially Responsive — A segment's members must have different needs, wants and response to marketing stimuli from those of other segments in order for it to be worthwhile to offer it a unique marketing mix.

Business

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