What is the key concern when evaluating the fit for a market segment?

What is the key concern when evaluating the fit for a market segment?
A . Is the segment going to be highly profitable?
B . Are there substitutes for this product offering in the market?
C . Does the segment align with our values and mission?
D . Are our Customers happy?

View Answer

Answer: C

Explanation:

Market segmentation is the process of dividing a market into distinct groups of customers who have similar needs, preferences, or behaviors. Market segmentation helps enterprises identify and target the most valuable and profitable customer segments, design and deliver solutions that meet their needs, and optimize their marketing strategies and campaigns. However, market segmentation is not only based on quantitative factors, such as size, growth, and profitability, but also on qualitative factors, such as values, mission, and vision. A market segment should align with the enterprise’s values and mission, which reflect its purpose, identity, and culture. A market segment that aligns with the enterprise’s values and mission will help the enterprise achieve its strategic goals, create a positive brand image, and build trust and loyalty with customers.

Reference: Customer Centricity – Scaled Agile Framework

Advanced Topic – SAFe for Marketing – Scaled Agile Framework

What is one consideration when evaluating the fit for a market segment?