What are the five characteristics of an attractive target market?

A market worth targeting has the following characteristics: (1) It’s sizeable enough to be profitable, given your operating costs; (2) it’s growing; (3) it’s not already swamped by competitors, or you have found a way to stand out in the crowd; (4) it’s accessible, or you can find a way to reach it; (5) you have the …

What are the characteristics of target market?

The different characteristics of a target market are geographic, demographic, psychographic, behavioral, and product related.

What are the 5 target markets?

What Are the Five Types of Market Segmentation?

  • Behavioral Segmentation.
  • Psychographic Segmentation.
  • Demographic Segmentation.
  • Geographic Segmentation.
  • Firmographic Segmentation.

What are the market characteristics?

Characteristics of Market:

  • (1) An Area:
  • (2) One Commodity:
  • (3) Buyers and Sellers:
  • (4) Free Competition:
  • (5) One Price:
  • Meaning:
  • Determinants:
  • Number and Nature of Sellers:

What are the 4 main levels of target markets?

Geographic, demographic, psychographic and behavioral are the four levels of segmentation that can help define your business’s primary target audience.

What are the 5 common positioning strategies?

There are five main strategies upon which businesses can base their positioning.

  • Positioning based on product characteristics. …
  • Positioning based on price. …
  • Positioning based on quality or luxury. …
  • Positioning based on product use or application. …
  • Positioning based on the competition.
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What are the 7 market segmentation characteristics?

Market Segmentation: 7 Bases for Market Segmentation | Marketing Management

  • Geographic Segmentation: …
  • Demographic Segmentation: …
  • Psychographic Segmentation: …
  • Behavioristic Segmentation: …
  • Volume Segmentation: …
  • Product-space Segmentation: …
  • Benefit Segmentation:

What are the 5 market structures?

The five major market system types are Perfect Competition, Monopoly, Oligopoly, Monopolistic Competition and Monopsony.