What is market segmentation and why does it relate to strategic positioning?
Second, how does the industry life cycle affect business strategy?
Third, what is an organization's market segmentation and how is their life cycle impacted by the business strategy?
Market segmentation is essentially the segmentation or grouping of consumers and potential consumers of an organization's goods and products, based upon their similarities in preferences, demands, and pertinent needs. This relates to strategic positioning because an organization must position itself and market its services towards those ...