Once the segments are crafted, companies need to identify which ones to target. Their choice depends on a number of factors.
Firstly, it is important that the company has competencies and strengths that are required to compete in the segment. It is easier for a company to succeed in segments, where it possesses competitive advantage.
The size and growth rate of a segment adds to its appeal. The drawback, however, of an attractive segment is that it tends to attract competitors.
The level of competition is an important consideration. It is more difficult to enter a crowded segment than one where customers’ needs are not well served.
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